The Wall Street Journal (WSJ) reports the weekend’s comments by the US President Trump’s top Economic Adviser Kudlow and Treasury Secretary Mnuchin, as they clarified on Trump’s Friday’s tweet, ordering ordered US companies to look for alternatives to China after China said it would add more tariffs to US imports.
Kudlow said that Trump has no intent to invoke emergency powers and force companies to relocate operations from China.
Mnuchin noted that Trump wants US firms to start looking beyond China while adding that US President’s reference to the Fed Chair Powell as enemy not ‘literal’.
China’s President Xi has become an enemy on trade issues, Mnuchin said.
The softer tones by the US officials on the trade issue combined with the Chinese Vice-Premier Liu’s conciliatory remarks will likely help ease some nerves in Asia, as the risk-off trades appear to have eased off a bit.
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