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Title : President Trump: 'Not Ready' For China Trade Deal Whle Dismissing Recession Fears
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President Trump: 'Not Ready' For China Trade Deal Whle Dismissing Recession Fears

U.S. President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. REUTERS/Kevin Lamarque/File Photo/File Photo

Reuters: Trump 'not ready' for China trade deal, dismisses recession fears

WASHINGTON (Reuters) - U.S. President Donald Trump and top White House officials dismissed concerns that economic growth may be faltering, saying on Sunday they saw little risk of recession despite a volatile week on global bond markets, and insisting their trade war with China was doing no damage to the United States.

“We’re doing tremendously well, our consumers are rich, I gave a tremendous tax cut, and they’re loaded up with money,” Trump said on Sunday.

But he was less optimistic than his aides on striking a trade deal with China, saying that while he believed China was ready to come to an agreement, “I’m not ready to make a deal yet.”

He hinted that the White House would like to see Beijing resolve ongoing protests in Hong Kong first.

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WU Editor: Both sides are not ready for a trade deal because both sides believe it is in their interest to prolong this dispute. As for recession fears. The media narrative for the past week was that a recession may come in the next year or two. I do not share that point of view. China's real GDP growth is now near zero (contrary to Beijing's clam that it is over 6%), and the EU economies are experiencing negative growth. But the U.S. economy is still growing and unemployment is still at near record low numbers. U.S. personal debt levels are still high, but like I said, everyone is still working.

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