President Donald Trump renewed his trade attack on China | Calamatta Cuschieri

Market summary

Maltese market closed in red on Tuesday, with MSE total index ending the session 0.110% lower to 9,831.521 points. Best performer was RS2 Software plc by adding 3.77% to close at 2.20. Most of equity market closed in red. Biggest fall, of 3.80% was seen from PG plc with closing price of 1.77. Followed by Santumas Shareholdings plc with 1.41% drop to 1.40 and Malta International Airport, which slid 1.36% to 7.25. Less than 1% fall was also seen from Mapfre Middlesea plc, GO plc and MIDI plc.

European stocks were mostly higher on Tuesday after reports that US President Donald Trump will postpone plans for new trade tariffs. By the end of trading, the Stoxx 600 was 0.38% higher at 406.90, as Germany's Dax climbed 0.65% to 13,283.51 and the French CAC 40 added 0.44% to 5,919.75. London's FTSE 100 was up 0.5% at 7,365.44.

US stocks closed on a mixed not, with the Dow Jones Industrials falling just short of registering its tenth record close of the year. At the close, the Dow Jones Industrial Average was flat at 27,691.49, while the S&P 500 closed 0.16% firmer at 3,091.84 and the Nasdaq Composited saw out the session 0.26% stronger at 8,486.09.

Trump says China cheated America on trade, but he blames US leaders for letting it happen

President Donald Trump renewed his trade attack on China, calling the nation “cheaters” though he blamed the situation on past U.S. leaders. Trump spoke Tuesday at the Economic Club of New York.

“Since China’s entrance into the World Trade Organization in 2001, no one has manipulated better or taken advantage of the United States more,” Trump said. “I will not say the word ‘cheated,’ but nobody’s cheated better than China, I will say that.”

The remarks break a period of relative peace between the two sides, who have been looking to hammer out the first phase of an agreement that would ease some tariffs. Details of a potential deal remain in flux, with the U.S. pushing for more open markets and an elimination of intellectual property theft, while China wants Washington to drop some $250 billion in tariffs imposed since the impasse began.

Rather than lay the blame on China, though, Trump said that previous leaders who negotiated trade deals allowed manipulation of the agreements, with results that hurt American workers, particularly those in the manufacturing industry.

The president recalled a speech he gave during which he was criticizing the country for its economic practices.

China was not alone in taking heat from the president. Trump also singled out the European Union for unfair trade practices.

 

This article was issued by Nadiia Grech, Junior Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article are being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.

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