trade

Markets Tumble Again But White House Not Guaranteeing China Deal
‘We'll see,’ President Trump's top economic adviser says of tricky talks

The flags of China and the United States are displayed in front of the portrait of China’s late communist leader, Mao Zedong, outside the Forbidden City on Nov. 9, 2017 in Beijing, before President Trump’s state visit. (Lintao Zhang/Getty Images file photo)

U.S. markets plunged again Thursday amid doubts the Trump administration and China can strike a legitimate trade deal that would avoid an escalation of tensions and economic turbulence as the White House urges patience — and few guarantees of success.

The Dow Jones Industrial Average, NASDAQ and S&P 500 Index all were closed Wednesday as part of a national day of mourning for the late President George H.W. Bush following a Tuesday sell off. But the one-day break did little to calm spooked markets.

Sen. Christopher S. Murphy Doubts Trump’s Optimistic Claims on China Trade Talks
Democratic lawmaker just isn’t buying president’s contention of a big win

President Donald Trump greets the press as the president of Argentina, Mauricio Macri, shows the way to a meeting during a G-20 summit last week. (Ricardo Ceppi/Getty Images file photo)

Hours after threatening “major tariffs” on Chinese goods unless a new trade deal is reached, President Trump on Wednesday claimed his administration is hearing “very strong signals being sent by China.”

But one Democratic senator, Connecticut’s Christopher S. Murphy, isn’t buying it.

Trump Threatens ‘Major Tariffs’ Against China if Trade Pact Falters
Tweet demands a ‘REAL DEAL’

President Donald Trump is threatening to charge major tariffs against Chinese products if a final trade pact isn’t reached. (Win McNamee/Getty Images file photo)

President Donald Trump again Tuesday threatened “major Tariffs”  on Chinese products shipped to the United States if his administration fails to strike a final trade pact with Beijing. 

Trump, China’s Xi Agree to End Trade and Tariff Standoff
Lawmakers have been split on how tough Trump should be on Beijing

Chinese President Xi Jinping arrives at the Capitol in September 2015. He and President Trump agreed to a trade cease-fire Saturday after months of tensions. (Bill Clark/CQ Roll Call file photo)

President Donald Trump and Chinese President Xi Jinping on Saturday agreed to what amounts to a cease-fire on a monthslong trade tiff.

“President Trump has agreed that on January 1, 2019, he will leave the tariffs on $200 billion worth of product at the 10 percent rate, and not raise it to 25 percent at this time,” White House Press Secretary Sarah Huckabee Sanders said in a statement.

Trump Gets Needed Win With Trade Pact, But Fight With Congress Looms
‘I don’t expect to have much of a problem,’ president says alongside Mexican and Canadian leaders

President Donald Trump greets the media as Argentine President Mauricio Macri shows the way to their meeting before the G20 Leaders’ Summit on Friday in Buenos Aires. (Ricardo Ceppi/Getty Images)

President Donald Trump notched a needed political win Friday when he and his Canadian and Mexican counterparts signed a new trade pact, and he predicted Congress would approve the North American Free Trade Agreement-replacing deal.

Trump, Mexican President Enrique Peña Nieto and Canadian Prime Minister Justin Trudeau sat at a table in Buenos Aires on the sidelines of a G-20 summit in the Argentine capital and each signed three copies — one for each country — of the agreement. On his last day in office, Pena Nieto joined Trump in holding up a copy showing all three signatures. Notably, however Trudeau did not, leaving the version he signed closed on the table.

Putin, Xi Set to Test ‘America First’ Trump at G-20
Coons says president should ‘end the tariffs’ during dinner with Chinese leader

President Donald Trump and Russian President Vladimir Putin arrive for a joint press conference after their summit in July in Helsinki. They are scheduled to meet again at a G-20 summit this weekend in Argentina. (Chris McGrath/Getty Images file photo)

Donald Trump takes his “America first” presidency to Argentina on Thursday for a high-stakes G-20 summit, but lawmakers and experts warn his go-it-alone approach could hamstring his own goals on China, Russia and North Korea.

Trump is expected to pose for the usual “family photo” with the other world leaders gathered in Buenos Aires. There will be one-on-one meetings with allies such as Japanese Prime Minister Shinzo Abe and South Korean President Moon Jae-in as Trump looks to build a unified front against North Korea. And there will be face-to-face talks with Turkish President Recep Tayyip Erdogan, who has been much more critical than Trump of Saudi Arabian Crown Prince Mohammad bin Salman after Washington Post journalist Jamal Khashoggi was killed at the Saudi consulate in Istanbul.

Trump Retweets Supporter’s Call for GM to Return Bailout Funds
President is angry with U.S. automaker for cutting jobs in key battleground states

President Donald Trump speaks to the media before departing on Marine One on the South Lawn of the White House earlier this month. (Mark Wilson/Getty Images)

President Donald Trump retweeted a supporter’s call for General Motors to repay billions to the federal government it received as part of last decade’s auto industry bailout. He also warned GM the White House is studying moves he can take using his executive powers to punish the company.

The president shared with his 56 million Twitter followers a tweet by an account with the handle @The_Trump_Train that criticized GM for cutting jobs and production at facilities in Ohio, Michigan and Maryland. It also suggested the automaker return over $10 billion in federal monies it received in the late 2000s to stay afloat.

Trump Blames Federal Reserve for Bad Economic News
President has departed from norms by criticizing the central bank

President Donald Trump is blaming Federal Reserve Chairman Jerome Powell for a slew of bad economic news. (Bill Clark/CQ Roll Call file photo)

President Donald Trump on Tuesday blamed Federal Reserve Chairman Jerome Powell for recent bad economic news that has critics training their fire on White House policies on trade and tax policy, claiming it is Powell’s fault that stocks are sliding and General Motors is laying off workers — and expressing regret over tapping him for the job.

“I’m doing deals and I’m not being accommodated by the Fed,” Trump told the Washington Post. “They’re making a mistake because I have a gut and my gut tells me more sometimes than anybody else’s brain can ever tell me.”

Trump Threatens GM: Floats Turning off Federal Subsidies
President feels betrayed by U.S. automaker, Kudlow says

President Donald Trump is angry with General Motors executives over job cuts in three U.S. states. White House aide Lawrence Kudlow, right, says Trump feels betrayed after pushing for pro-automaker language in a new trade deal. (Mark Wilson/Getty Images)

President Donald Trump escalated his budding feud with General Motors by suggesting he might end all federal subsidies to the U.S. automaker a day after it cuts jobs at factories in Ohio, Michigan and Maryland.

Trump tweeted that he is “Very disappointed” with GM for ceasing work at facilities in those states but “Nothing being closed in Mexico & China.”

White House Presses China’s Xi Before Trade Talks With Trump
Leaders will break bread amid impasse, tensions Saturday night at G20 summit

U.S. and Chinese flags on a table during a meeting of military leaders in 2014. President Donald Trump and Chinese President Xi will meet on Saturday night in Argentina. (U.S. Army Photo by Sgt. Mikki L. Sprenkle/Released)

The White House wants to pressure Chinese President Xi Jinping ahead of a high-stakes dinner with President Donald Trump during which the two leaders will attempt to make some progress on long-stalled trade talks.

Lawrence Kudlow, Trump’s chief economic adviser, dismissed Wall Street talk of a coming recession at home. In fact, he said Trump administration officials view the state of the American economy as a major leverage point going into the Saturday Trump-Xi meeting.