Monday, May 6, 2019

Trump tweets disrupt markets

World-wide stock prices hit the skids after United States President Trump tweeted that he might increase tariffs on Chinese goods to 25 per cent and add more things to the list.

That prompted the Chinese to threaten to cancel negotiations scheduled for this week in Washington.

Before Trump’s tweet, there was optimism that a deal to end the tariff escalations might be concluded this week.

Canada has apparently asked the U.S. to include some relief from Chinese measures to restrict canola, soybean and pork shipments.

There is widespread belief that the Chinese are using trade measures and detainment of several Canadians in China to pressure Canada to release Meng Wanzhou, the chief financial officer for Chinese tech giant Huawei.

She was arrested in Vancouver because the U.S. has issued an extradition request so it can try her for allegedly violation trade sanctions on Iran.