102 words was all it took for the President to wipe $1.93 trillion from global stocks last week when he Tweeted that he was going to boost taxes (by almost double) on $200 billion of Chinese goods.
The threat certainly worried investors, sparking massive losses on stock markets around the world.
The sudden Tweet seems to be a result of the tense ‘trade war’ going on between the US and China – two economic superpowers. President Trump and Chinese President Xi Jinping (pictured) have been negotiating potential deals for months, and most economists were confident they were going relatively smoothly – clearly not.
As part of the dooming Tweets, Trump said, “the trade deal with China continues, but too slowly, as they attempt to renegotiate. No!”
Strong (and expensive) words, Mr President.
