Trump Claims China Breached Agreement; Stock Market Reacts

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

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.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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