Aides admit that Trump faked "phone calls" with China to calm the stock market
President Donald Trump claimed he had direct communication with the Chinese during last weeks G7 Summit in Biarritz. But, he didn't aides admit.
“China called last night our top trade people and said, ‘Let’s get back to the table.’ So we will be getting back to the table and I think they want to do something,” the president told reporters. “They have been hurt very badly but they understand this is the right thing to do and I have great respect for it. This is a very positive development for the world. I think we are going to have a deal.”
CNN reported that Trump basically fabricated the phone call to calm the stock market:
"Though Trump and Treasury Secretary Steven Mnuchin insisted there had been “communication,” aides privately conceded the phone calls Trump described didn’t happen they way he said they did.
Instead, two officials said Trump was eager to project optimism that might boost markets, and conflated comments from China’s vice premier with direct communication from the Chinese."
And, that's exactly what happened. China's Foreign Ministry had no knowledge of any phone calls with the president, because they simply didn't happen.
“Regarding the phone call in the weekend, I am not aware of that,” Foreign Ministry spokesman Geng Shuang told reporters last week. “I can tell you clearly that I haven’t heard of such a thing.” And it may indicate why the president was so hesitant to offer any detail on said calls, instead telling reporters, “We have had calls at the highest level, but I don’t want to talk about that.”
Trump's trade war with China is hurting America, plain and simple, and Trump is doing everything he can to try and reverse the negative publicity his administration is receiving.
Instead of taking responsibility, Trump has resorted to blaming American companies now.
“If the Fed would cut, we would have one of the biggest Stock Market increases in a long time. Badly run and weak companies are smartly blaming these small Tariffs instead of themselves for bad management...and who can really blame them for doing that? Excuses!” Trump said on Friday.
American consumers will soon start feeling the consequences, even more so. Starting this Sunday, another 15% tariff is slated to go into effect, and it's essentially placing a tax on Americans who buy more than $550 billion worth of Chinese goods.
Expect to pay more for a whole host of items - including suits, jackets, pants, shorts, shirts, and outerwear – as well as TVs, diapers, coffee, whiskey, meat, cheeses and textbooks.
It's estimated that the average American will end up paying $1,000 more per year because of Trump's trade war.