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Trump Deletes Tweet Saying “No Need To Rush” China Trade Talks

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Update 2: In what appears to be the third round of revisions to his increasingly disjointed thread of trade-deal related tweets, Trump has now retweeted the deleted tweet saying talks were proceeding in a “congenial” manner and that there was no need to rush.

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He also added a tweet taking a shot at Obama and “Sleepy Joe” Biden, while warning China not to try and renegotiate a nearly finalized deal at the last minute.

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Update: Trump has retweeted his original rant, apparently with the aim of correcting an error where he said the amount of goods subjected to tariff hikes last night was $250 billion, not $200 billion. We have updated some of these tweets below.

He has also deleted the first tweet in his initial thread, where he said talks continued in “a very congenial manner” and that there was “no need to rush.”

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Clearly anxious about the impact the trade war is having on America’s farmers, President Trump in a flurry of tweets Friday morning assured investors that although trade talks continue “in a very congenial manner,” there is “absolutely no need to rush” because the new tariffs will bring in “$100 billion” to the Treasury, which can in turn be spent buying agricultural goods from US farmers.

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Trump added that “the process has already begun to place additional Tariffs at 25% on the remaining 325 Billion Dollars” – in keeping with the tariff threats from Sunday that set this whole thing in motion (notably, Trump tweeted that tariffs had been raised on $250 billion of goods, when the accurate figure is $200 billion) [Note: This tweet has since been deleted].

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These goods, in turn, would be shipped to struggling countries in the form of humanitarian assistance, throwing a lifeline to American farmers while leaving $85 billion in tariff revenues for infrastructure.

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“Our farmers will do better, faster, and starving nations can now be helped.” The US will buy more products “than China ever did,” Trump insisted.

“Tariffs will bring in FAR MORE wealth to our country than even a phenomenal deal of the traditional kind.”

We know that sounds complicated, and the plan sketched out in the five-tweet thread is probably unrealistic. But the biggest takeaway is this: Trump is already preparing his political cover for a no-deal scenario. Furthermore, Trump’s comments about the next round of tariff escalation risks spooking the market, though he hedged by saying talks remain congenial.

Stock futures ticked lower in the aftermath of the tweets, demonstrating just how fragile sentiment has become, even though – as Goldman pointed out – the US has a two-week window before the first batches of Chinese goods subject to the new tariff rates reach American shores.

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Tyler Durden

Zero Hedge's mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information's unending quest for freedom. Visit https://www.zerohedge.com

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