Foreign Trade

Trump Softens Tone on China, Iran at G-7 Summit

from The Wall Street Journal,

The president says he thinks China wants to make a deal and indicates he is open to meeting with Iran’s president.

President Trump struck a conciliatory tone on the final day of the Group of Seven summit, where he faced pressure from French President Emmanuel Macron to de-escalate the trade war with China and ease tensions with Iran. At a joint news conference with Mr. Macron, Mr. Trump said he was open to meeting with Iranian President Hassan Rouhani. The remarks came hours after the Iranian leader signaled that he too was open to talks, and Mr. Macron said he hoped the two leaders would speak in the coming weeks. Mr. Trump also sounded a more optimistic note Monday about trade talks with China after having doubled down on his tariff policy only a day ago. “I think they want to make a deal,” Mr. Trump said. Asked earlier Monday if he would consider delaying or canceling planned tariffs on China, he replied: “Anything’s possible.” Mr. Trump’s softer rhetoric on China helped to calm investors worried about any further escalation in U.S.-China trade tensions. Both the Dow Jones Industrial Average and the S&P 500 advanced about 1%.

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