Trump Claims China Breached Agreement;
Photo: Manuel Balce Ceneta AP/TT

Trump Claims China Breached Agreement; Stock Market Reacts

The President of the USA, Donald Trump, accuses China of having breached an agreement with the USA from May, concerning the reduction of tariffs. The New York Stock Exchange reacts negatively to the statement.

China has "completely broken the agreement with us", claims Trump in a post on his social network Truth Social.

Trump did not elaborate on how it has broken the agreement, which was about reducing the tariffs that were shock-raised earlier this year in a trade war that took new momentum when Donald Trump began his second term.

The tariff reductions were to be applied when launched during a period to provide room for negotiations about the trade relationship between the world's largest and the world's second-largest economy.

Trump's statement caused the major indexes on the New York stock exchange to fall in pre-trading.

When the stock exchange had opened, the Dow Jones industrial index had fallen 0.1 percent after half an hour of trading, the broad S&P 500 had retreated 0.5 percent and the Nasdaq's technology-heavy composite index 0.8 percent.

In this story
AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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