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Donald Trump’s weekend comments on trade war escalation – regrets, retractions, and reversals

  
Analysis, Politics
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US President Trump had comments on Saturday morning on his regrets. Later reversed.

Let’s try to plot a timeline and get some sort of order, bolding mine:
1.
During a breakfast with British Prime Minister Boris Johnson on the sidelines of the Group of Seven meeting … a reporter asked Trump whether he had any “second thoughts” about his escalating trade war with China. 
Trump responded, “Yeah, sure. Why not. Might as well,” he said. “Might as well. I have second thoughts about everything.”
2.
Trump then claimed that talks were going well with China and that he planned to back away from some of his recent threats, such as seeking to force companies to leave China.
3.
The White House weighed in later, said Trump’s suggestion that he regretted escalating the trade war with China was “misinterpreted” and that what he regrets is not raising tariffs higher.
On the back down over ordering US companies out of China:
  • On Friday, Trump had said that “I hereby order” U.S. companies to prepare to stop doing business with China,
  • on Sunday Trump reversed this also, said he had no plans to invoke this law “I have no plans right now,” Trump said. “Actually, we’re getting along very well with China right now.”
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While Trump can be criticised on a policy level, he is very active on policy setting, on a personal level it does appear he deserves some sympathy with respect to his declining faculties. I hope he can find help and wish him well.
US President Trump had comments on Saturday morning on his regrets. Later reversed.

Trump counters Kudlow: “I didn’t say I’m not going to do something” on dollar

  
  Analysis
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Trump comments late on Friday

Trump comments late on Friday
Trump made news late in the day on Friday. Speaking to reporters, he walked back comments from economic adviser Larry Kudlow, who earlier in the day said the White House wouldn’t intervene in the dollar.
“I didn’t say I’m not going to do something,” he told reporters.
It was earlier reported that Peter Navarro gave him options on devaluing the dollar but Trump ruled them out. They also weighed proposals to publicly talk down the currency.
His public reaction is typical Trump, he rarely likes to show his hand, even in a matter that’s decided. Bloomberg sources said on Fr
He followed up that comment with several other notable quips and tweets:
  • BBG, citing two sources, said lower rates from the Fed might do the job and help avoid intervention
  • “I could do [currency intervention] in two seconds if I wanted to” he said
  • “The dollar is very strong, the country’s very strong, the dollar — it’s a beautiful thing in one way, but it makes it harder to compete.”
  • “The fed acted too soon, and I turned out to be right. They acted too soon and too violently.”
  • “I think that China will probably say, let’s wait, it’s 14, 15 months until the election”
  • “So, I don’t know if they’re going to make a deal. Maybe they will, maybe they won’t, I don’t care, because we’re taking in tens of billions of dollars worth of tariffs.”
  • “When I win, like almost immediately, they’re all going to sign deals”
  • He was asked if he will tariff French wine, after Macron levied a tax on Internet giants. “I might, I might,” he said.”I’ve always liked American wines better than French wines, even though I don’t drink wine. I just like the way they look, OK? But American wines are great.”

Lots to digest there.

Trump on Iran says he is going to sit back and wait

  
Analysis, Politics
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Trump on Iran

  • Trump says he is going to sit back and wait, we’ll see what happens
  • He says it’s getting harder for him to make a deal with Iran, says it could go either way very easily
Obviously they’re not in a rush to war but that doesn’t mean they’re not putting some pieces in place. You don’t pre-announce any attack.
Separately:
  • Working on trade deals with Chinese President Xi
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