Asian and European stocks rallied on Friday after Trump received a"beautiful letter" from China's leader and called for cooperation on a trade deal.Trump's decision to go"all in" has raised the stakes, the likelihood of retaliation from China, and the risk of talks breaking down, said one analyst.
Equities rose despite the Trump administration's increase in tariffs from 10% to 25% on $200 billion of Chinese goods, which took effect on Friday morning. The duties span more than 5,700 product categories, from soy sauce to rat poison and televisions to mattresses,"Trump was true to his word, and there is no can kicking," said Neil Wilson, chief market analyst for Markets.com."This marks a sharp escalation in the trade spat, but it's not gone nuclear yet.
Too bad trump lies about everything.
🤣🤣🤣 the markets are a complete joke
Trump got 2 letters 1)Kim “love letter” and 2)Xi “beautiful letter”. Asian languages are highly emotional even when translated. Actions speak louder than words. Best if consistent.
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