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Investing.com -- Ahead of his visit to the Middle East, President Trump has hinted at an upcoming significant announcement. He made this statement during a bilateral meeting with Canada’s Prime Minister, Mark Carney. While the subject of the announcement remains undisclosed, Trump emphasized its positivity and importance.
Trump stated, "we’re going to have a very, very big announcement to make. Like as big as it gets...it’s going to be big and it’s very positive...And that announcement will be made either Thursday or Friday or Monday before we leave." He further clarified that the announcement does not necessarily pertain to trade matters.
In the same meeting, Trump also discussed ongoing talks with China. He highlighted that China is keen on negotiations and a meeting, despite the current halt in business activities between the two nations. Trump attributed this halt to the previous administration’s incompetence, leading to a loss of $1 trillion to China in trade. He pointed out that the current situation is saving the US this amount, as China’s economy is greatly suffering from the lack of trade with the US.
Trump also touched on his approach to international trade, stating that he aims to assist countries rather than harm them. He called for countries to open up their economies and reduce their tariffs. As an example, he cited India, which agreed to drop its tariffs, one of the highest in the world, to zero. He emphasized that the US is open for business and that countries would pay for the privilege of trading with the US.
Following Trump’s comments, the S&P 500 initially experienced a surge but later reversed its course. The index is down about 0.5%.