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Home / Business / Trump says United States in & # 39; strong position & # 39; and money & # 39; flows in & # 39; from China

Trump says United States in & # 39; strong position & # 39; and money & # 39; flows in & # 39; from China



President Donald Trump smiles in the White House East Room in Washington D.C. September 12, 2018.

Calla Kessler | The Washington Post | Getty Images

President Donald Trump said Tuesday that the United States is in a "very strong" economic position and that interest and investment opportunities attract "huge amounts of money from China."

"Massive amounts of money from China and other parts of the world are flowing into the United States for security, investment and interest!" The president said on Twitter. "We are in a very strong position. Companies are also coming to the US in large numbers. A beautiful thing to look at!"

The president's comments came amid an intensifying US-China trade war, with the White House announcing last week plans to impose a further 1

0% tariff on $ 300 billion worth of Chinese imports.

This triggered a wave of retaliatory rhetoric and action from Beijing, which has since prompted state companies to stop buying US agricultural products.

Such trade-related anxiety peaked on Monday, when China's currency weakened to a key Psychological level for the first time since 2008, fearing Beijing might intentionally undermine the yuan to increase exports.

It sent the Dow Jones Industrial Average plummeting more than 750 points and the S&P 500 down nearly 3% on Monday, with both main indices notching its worst day in 2019.

After the yuan's weakening against the US dollar, the Treasury Department officially appointed Monday China to "currency manipulator", the first time an administration has made such a statement since the Bill Clinton era in the 1990s.

It looked as if the back-and-forth on Tuesday diminished after China's central bank indicated that it still intends to support the yuan.


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