President Donald Trump said Friday morning in a tweet storm that he is not in the rush to end trade negotiations with China and that the tariffs "will make our country stronger."
Fund futures fell after the tweets, including the Dow Jones Industrial Average futures, which dropped 1
Tweets came hours after the US increased customs duties of $ 200 billion Chinese products from 10% to 25%. The Chinese Department of Commerce said shortly after the midnight deadline for the tariff increase it would oppose the US flight.
Traders hoped that the US and China could make a resolution before the tariffs entered into force on Friday. Chinese Deputy Prime Minister Liu Han met with top US trade officials Thursday evening in Washington, a short time before the tariffs were raised.
Trading negotiations will continue on Friday despite the tariff increase.
"Tonight, (US Trade Representative Robert Lighthizer) and (Treasury Secretary Steven Mnuchin), President Trump met to discuss the ongoing trade negotiations with China, and the Ambassador and Secretary then had a working dinner with Deputy Prime Minister Liu He and agreed to to continue discussions tomorrow at the USTR, said White House Deputy Secretary Judd Deere in a statement Thursday evening.
Trump said in his tweets that, in addition to hiking duties, he continues to negotiate with China in the hope that they will not again "redo" It referred to his earlier claim that China had backtracked on almost every aspect of the trade agreement.
He also took a shot at former Vice President Joe Biden, the foremost runner in the democratic presidential election race of the 2020 election.  Tweet
The futures market danced as Trump tweeted Friday morning Trump deleted the original tw Eets, including the one referring to "No need to rush", but then repeated them and allowing the volatility of the market.
The White House could not be reached to comment on why the tweets were edited.  Trump later in the tweetant defended the tariffs and said "the tariffs will mean much more wealth to our country than even a phenomenal part of the traditional variety."
After a difficult week for shares where the Dow Jones Industrial Average has lost more than 650 points and S & P 500 has lost about 2.5%, all three main indexes are set to open lower on Friday.
Here are Trumps full tweetstorm:
Correction: An earlier version missed the new customs rate on Chinese goods. That's 25%.