Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » World
1-min read

Donald Trump's Claims of Winning Trade War Are 'Wishful Thinking': Chinese State Newspaper

The paper referred to a Saturday Tweet by Trump which said "Tariffs are working far better than anyone anticipated. China market has dropped 27 percent in last four months."

Reuters

Updated:August 7, 2018, 7:34 AM IST
facebookTwitterskypewhatsapp
Donald Trump's Claims of Winning Trade War Are 'Wishful Thinking': Chinese State Newspaper
Representative image (Reuters)
Loading...

Shanghai: A Chinese state newspaper on Tuesday described as "wishful thinking" U.S. President Donald Trump's belief that a fall in Chinese stocks was a sign of his winning the trade war and an example of his "ability to elasticise the truth."

The commentary in the official China Daily comes as rhetoric in state media, which is actively controlled by Beijing, has taken an increasingly aggressive stance against Trump, a shift from their previous approach, which mostly limited direct criticism to U.S. policies.

On Monday, the Communist Party's People's Daily newspaper singled out Trump, saying he was starring in his own "street fighter-style deceitful drama of extortion and intimidation".

China proposed retaliatory tariffs on $60 billion worth of U.S. goods ranging from liquefied natural gas (LNG) to some aircraft on Friday, following a proposal by the administration of U.S. President Donald Trump for a higher 25 percent tariff on $200 billion worth of Chinese imports.

The paper referred to a Saturday Tweet by Trump which said "Tariffs are working far better than anyone anticipated. China market has dropped 27 percent in last four months."

China's stock market was performing poorly before the administration's tariff attack, said the China Daily, and is due in part to Beijing's attempts to cut corporate debt.

The U.S. trade deficit climbed $3 billion to $46.3 billion in June, the first increase in four months, the U.S. Commerce Department said on Friday, undermining Trump's claim that "tariffs are working big time" said the paper.

Trump has repeatedly criticised China for its trade deficit with the U.S., which he feels is a sign of unfair trade practices.

Despite the tariffs, China's exports are expected to have grown in July, according to a Reuters poll of economists.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

| Edited by: Ahona Sengupta
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results