‘We will never get tired of winning!’ Donald Trump boasts about his success as the stock market hits another all-time high fueled by belief there will be China trade deal
- The Dow hit another record high after a 150-point gain Monday
- Trump administration touting ‘phase one’ deal with China
- Economic advisor Larry Kudlow said deal is ‘absolutely completed’
- Chinese side has been more cautious and no signing date has been set
- Trump Tweeted he will ‘never get bored’ of touting stock highs
President Donald Trump touted a new stock market record Monday as markets soared on word from his administration that a ‘Phase One’ deal with China to end the trade war was complete.
Trump cheered the gains as the Dow Jones Industrial Average picked up another 100 points, tacked onto gains last week after the administration and China announced they were moving forward with a deal to reduce U.S.-imposed tariffs while China commits to new purchases of agricultural products.
The Chinese side has been more cautious about pronouncing a deal, however, and no signing date has been set
The president hailed a ‘very big day on the stock market today’ after earlier tweeting about gains.
‘New Stock Market high! I will never get bored of telling you that – and we will never get tired of winning!’ Trump said.
President Donald Trump touted the ”New Stock Market high!’ on Twitter
Trump’s comment was a take on his 2016 line that ‘We’re going to win so much, you’re going to be so sick and tired of winning’ – something that apparently hasn’t happened yet.
Trump’s chief economic advisor Larry Kudlow told reporters at the White House on Monday: ‘Make no mistake about it: the deal is done, the deal is completed.’ He emphasized: ‘The deal is absolutely completed.’
But he would not give a definitive time for top officials to sign the deal, saying of the first week in Januar: ‘That’s the hope.’
White House Economic advisor Larry Kudlow said a ‘Phase One’ deal with China is ‘absolutely completed’
The markets were up last week amid indications of a deal
In this file photo taken on October 10, 2019 US Treasury Secretary Steven Mnuchin (R) and US Trade Representative Robert Lighthizer (C) greet Chinese Vice Premier Liu He as he arrives for trade talks at the Office of the US Trade Representative in Washington, DC
The Dow Jones Industrial Average hit another record Monday after it gained more than 100 points by closing Monday, after gains throughout the year
“Phase Two and its outcome will depend in some way on the success of Phase One. The two are going to be linked,” he said.
He also didn’t rule out the U.S. imposing tariffs if there are disputes. ‘If it’s not resolvable, some economic valuation will be ascribed and actions will be taken. No question, there could be tariff actions taken as an enforcement tool.
Trump announced the deal was at hand Thursday, on a day when the House Judiciary Committee voted out two articles of impeachment against him.
There also were reports of increased Chinese economic gains, after stumbles amid the trade war, which also has hit U.S. agricultural producers and consumers. China has pledged to increase purchases of U.S. agriculture products, after U.S. farmers were the recipients of multi-billion taxpayer bailouts amid the trade standoff.