In a comment that moved financial markets, President Donald Trump on Monday said serious negotiations with China will begin after the U.S. received two “very good calls” from Beijing.
“China called last night our top trade people and said let’s get back to the table,” the president said after meeting Egyptian President Abdel-Fattah el-Sissi. “I have great respect for it.”
Trump said “we are going to start talking very seriously.” He says the Chinese want to make a deal and he thinks one will finally be reached. Trump says he’ll say more about China later Monday.
China’s foreign ministry meanwhile said it wasn’t aware of any such calls and that a U.S.-China decoupling will lead to market chaos, according to wire reports.
After the Dow Jones Industrial Average DJIA, -2.37% dropped 623 points on Friday, U.S. stock futures ES00, +0.58% YM00, +0.67% were higher in the early hours of Monday morning.
The dollar rose against the Japanese yen USDJPY, +0.46% . Europe stocks SXXP, -0.26% were a bit weaker, with trading light with the U.K. market closed for a holiday.
— The Associated Press contributed to this report
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