""Don't worry about China," Trump said on his social media platform Sunday. He also said that China's leader, Xi Jinping, "doesn't want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!!" It was a sharp turnaround from the anger Trump displayed on Friday, when he accused China of " a moral disgrace in dealing with other Nations.""
"He pointed to "an extremely hostile letter" describing curbs to exports of rare earths, which are materials used in the manufacturing of everything from personal electronics to jet engines. Trump said at the time that he may place an additional 100% tax on imports from China starting on Nov. 1. Trump's backtrack in anger raised hopes that the world's two largest economies may find a working relationship that allows global trade to continue."
U.S. equity indices rose as investors reacted to a tempering of U.S. rhetoric on China, with the S&P 500 jumping 1.1%, the Dow up 0.9% and the Nasdaq 1.3%. President Trump said the U.S. wants to help China and suggested Xi Jinping does not want a Depression, reversing earlier anger over alleged hostile Chinese actions. The prior dispute centered on a letter about export curbs on rare earths and the prospect of a 100% tariff on Chinese imports. Markets showed pronounced volatility after a 35% rally from April, and strategists say easing tensions could permit a rolling recovery into 2026.
Read at Fortune
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