President Trump retweeted a message Friday that he originally put out on April 4.
The tweet reads: “We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S. Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue!”
The tweet comes on the heels of warnings from experts on Thursday who said that the United States and China are running towards a potentially catastrophic trade war.
Most Asian stock markets were holding early Friday, in an early sign that investors—for now–are brushing off concerns about the brewing brouhaha between the world’s two biggest economies.
President Trump on Thursday called for Robert Lighthizer, the U.S. trade representative, to consider $100 billion in additional tariffs against China. The two nations have already slapped each other with planned tariffs totaling $50 billion this week.
But economic analysts said the situation could change rapidly, especially given the nations’ ongoing war of words.
“This is what a trade war looks like, and what we have warned against from the start,” National Retail Federation President and CEO Matthew Shay said in an interview with Reuters.
For their part, Chinese officials said they won’t capitulate to U.S. demands.
We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S. Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue!
— Donald J. Trump (@realDonaldTrump) April 4, 2018
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