- Main stock indicators On Friday, it ended, although President Donald Trump claims that China has violated a trade agreement that has been involved more than two weeks ago between the People’s Republic and the United States
The stock markets ended the week despite President Donald Trump’s observation call China on social media. The S&P 500 recorded a slight decrease of 0.02 %, the Nasdaq Stock Exchange decreased by 0.4 %, and Dow Jones rose by only 0.1 %.
On Friday morning, Trump posted on Truth Social, his social media platform, that his administration shocked a “quick deal” more than two weeks ago to correct a trade war between the People’s Republic and the United States
He was referring to an agreement between Treasury Secretary Scott Payet and the Chinese in Switzerland to stop the 90 -day stoppage on the US tariff for Chinese exports and mutual definitions of China. The deal witnessed the United States agreed to reduce additional fees on Chinese products from 145 % to 30 %, and the People’s Republic pledged to drop its revenge taxes from 125 % to 10 %.
But Trump claimed on Friday, without providing any evidence, that China “has fully convened its approval” with the United States follows his claim. comments From Thursday evening Fox The news was that the negotiations between the great powers were “somewhat suspended”.
Trump’s allegations against China came in the wake of the court’s rulings that found it lacking power to impose all the wide definitions list revealed in early April.
On Wednesday, the International Trade Court, the Supreme Federal Legal Authority that oversees trade disputes in the United States, ruled that the forty -seventh president did not have the legal authority to issue the comprehensive definitions he announced on what he called “Liberation Day” on April 2.
However, on Thursday, a federal appeal court, without ruling on the legal advantages of taxes, said that many Trump tariffs could remain temporary during litigation. The next session in the case on June 5.
“The President of the United States must be allowed to protect America from those who do this economic and financial harm. Thank you for your interest in this issue!” Trump posted on Thursday the social truth after the ruling of appeals.
Despite the confused image in Trump’s trade war, stocks have been rising since the opening of the markets last Friday. S&P increased by about 2.2 % over the past week. (They were closed to the day of the anniversary on Monday.
This story was originally shown on Fortune.com
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