Asian markets are tumbling after the latest escalation in the US-China trade war renewed uncertainties about global economies and about what President Donald Trump might say next.
Group of Seven leader and guests pose for the G7 family photo Sunday, Aug. 25, 2019 in Biarritz. A top Iranian official paid an unannounced visit Sunday to the G-7 summit and headed straight to the buildings where leaders of the world's major democracies have been debating how to handle the country's nuclear ambitions.
Two days after the U.S. and China traded a fresh round of retaliatory tariffs and Trump threatened to force U.S. businesses to cut ties with China, the president appeared to harbor qualms about the trade war, which has sent financial markets tumbling. At first, Trump’s admission appeared to mark a rare moment of self-reflection by the famously hardnosed leader. The subsequent explanation fits a pattern of Trump recoiling from statements he believes suggest weakness.
“Just to register a faint sheep-like note of our view on the trade war,” he told Trump. “We’re in favor of trade peace.”
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