NEW YORK — The global economy was already showing signs of a slowdown when President Donald Trump reminded the world of his love of tariffs and sent a chill through financial markets.
“I am a Tariff Man,” Trump announced Tuesday to signal his devotion to import taxes — a remark that served to downplay the likelihood of ending his trade war with China. Stocks sank across the world, in part over fear that an escalation in tariffs would choke off economic growth and possibly send a global slowdown into a recession.
By Wednesday, Tariff Man had tweaked his message to suggest more optimism on the odds of forging a deal with President Xi Jinping. Their meeting last weekend at an economic conference in Argentina produced a 90-day truce, a suspension of further increases in U.S. tariffs on Chinese goods and a pledge by Beijing to buy more U.S. goods.
“Not to sound naive or anything, but I believe President Xi meant every word of what he said at our long and hopefully historic meeting,” Trump tweeted. “ALL subjects discussed!”