While offering additional signals of the US-China tussle, American President Donald Trump recently defied speculations that he will speak to Chinese counterpart Xi Jinping. The Republican leader earlier criticized the dragon nation for Hong Kong security law and held it accountable for the coronavirus (COVID-19) outbreak during his on-going Rose Garden press conference.
Key quotes
We can impose massive tariffs on China if we desire.
You'll see more coming on actions towards China.
China is buying a lot of agricultural products.
Will sign something related to merit-based immigration and DACA.
Has no plans to speak to China’s President Xi.
Expect good news on COVID-19 vaccine very quickly.
China held undue influence in the world health organization, even as it contributed far less than the United States.
If it is necessary we would urge americans to wear masks during COVID-19 pandemic.
FX implications
The news failed to dim the market’s current risk-on mood despite carrying signals of escalations in the Sino-American tussle. The reason could be traced from indications of a sooner cure to the pandemic. As a result, S&P 500 Futures flash 0.86% gains to 3,211 by the press time.
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