"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" from China 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."
"For its part, China urged the United States to resolve differences through negotiations instead of threats. "We do not want a tariff war but we are not afraid of one," the Commerce Ministry said in a statement posted online. Hours later, Trump posted his less confrontational talk about China on Truth Social. The backtrack in anger, which also came before trading began on Wall Street, raised hopes that the world's two largest economies could find a working relationship that allows global trade to continue."
The S&P 500 rose 1.3%, recouping nearly half of Friday's drop, while the Dow gained 483 points (1.1%) and the Nasdaq advanced 1.8%. President Trump shifted from harsh criticism to conciliatory remarks about China, warning earlier of a possible 100% tax on Chinese imports after citing rare-earth export curbs, then urging not to worry and saying the U.S. wants to help China. China urged negotiations over threats and said it was not afraid of a tariff war. The rapid reversal in rhetoric boosted hopes that trade tensions could subside, supporting a potential rolling market recovery into 2026 per Morgan Stanley strategists.
Read at Fast Company
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