Donald Trump refreshes China tariff threats during Korea statements

Joshua Gibson FXStreet

United States (US) President Donald Trump swung for the fences on Monday, touching on a broad range of subjects during a joint press conference with South Korean President Lee Jae Myung. In between delivering remarks on the Korean peninsula, Donald Trump fashioned himself as the ultimate peace broker for multiple countries, and mused about having South Korea voluntarily give up sovereign land to the US.

President Trump also touched on international trade, insisting that US Crude Oil products are critical to South Korea, which overwhelmingly has its energy demands met by trade with China and India. Trump also brought back new tariff threats against China, vowing to impose 200% tariffs on targeted goods if China doesn't "give us magnets".

Key highlights

China has to give us magnets, if they don't we'll charge them 200% tariff or something.
We're going to do numbers on costs of drugs in the US.
We will be reducing drug prices by 1,400-1,500%.
I want to try to get as much as I can of US government taking a stake in companies. Hope to have many more cases like Intel.There will be other cases.I want them to do well.
Have not discussed specific security guarantees in Russia-Ukraine conflict.
The US will be back up as far as security measures go.
We deal with NATO, we don't really deal with Ukraine.
We spend no money on Ukraine anymore.
I want war to end.
Have spoken to Putin.
Also talking about nuclear missiles.
We would like to denuclearize Russia.
Putin reluctant to meet Zelenskyy because he doesn't like him.
Going to have serious discussions.
Thinking about contracting some ships from South Korea.
Gonna be buying ships from South Korea.
South Korea big buyer of US military equipment.
Putin and Zelenskyy should meet.
Don't know that they'll meet.
May be there for Putin-Zelenskyy meeting, may not.
There could be consequences if they don't meet.
We'll see what happens over week or two, at that point I'll step in.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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