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Trump Baffles With ‘No Rush’ China Trade Tweet, Delete, Retweet

(Bloomberg) — U.S. President Donald Trump, the morning after levying fresh tariffs on China, caused confusion among traders by tweeting there is “no need to rush” on China trade — then deleting that and other tweets moments later.

An earlier tweet was deleted and reposted with minor changes.

S&P 500 futures have been steadily pulling back since the tweet was first published, and are trading near the day’s low.

Tariffs, he said, would make the U.S. “MUCH STRONGER, not weaker. Just sit back and watch!”

The White House did not immediately respond to a request for comment on why the tweets were edited.

China has said it will be forced to retaliate, though hasn’t yet specified how or when it will do so.

Discussions between President Xi Jinping’s top trade envoy and his U.S. counterparts in Washington made little progress on Thursday, with the mood around them downbeat, according to people familiar with the talks. The negotiations were due to resume later Friday morning Washington time.

Trump claimed Friday that money received from tariffs would be used to purchase agricultural products from U.S. farmers to ship to other countries for food aid. Trump also said waivers on some products would be granted “or go to new source,” though he didn’t elaborate.

“In the meantime we will continue to negotiate with China in the hopes that they do not again try to redo deal!”

–With assistance from Margaret Talev.

To contact the reporter on this story: Derek Wallbank in Singapore at dwallbank@bloomberg.net

To contact the editors responsible for this story: Chua Baizhen at bchua14@bloomberg.net, Elizabeth Wasserman, Kathleen Hunter

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©2019 Bloomberg L.P.

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