PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia said today that President Donald Trump needs to drop the tariff threats against China and complete the deal.
“President Trump has indicated tariffs on another $200 billion of Chinese goods, which would increase to 25%,” Celia said. “That has Asia markets seeing some of the worst lows in three years. China and Hong Kong in particular are being hit the hardest. I said last week after U.S. Steel earnings came out, as the company indicated it was spending $1 billion on a new facility—and as President Trump tweeted that the earnings were due to tariffs—that I was afraid it might empower the president to think more restrictions could be better for U.S. companies. I appreciate his trend of thought there, but it’s not a good idea at this point. I am more concerned about what this could create if we went down this road, but it is not good for markets, and we are now seeing the U.S. markets tumble in dramatic fashion.
“Both China and the U.S. need this trade deal and we need to get it done soon,” Celia added. “We need to be able to pivot as quickly as possible from this deal and onto the Eurozone and other areas of the world. This deal has to get done and hopefully this won’t slow things up anymore, as the president has already stated his frustrations with how slow negotiations are going. This will be a concern throughout the rest of the week. We can count on that. The good news is that the China delegation is coming to Washington this week, regardless of these new threats of increased tariffs. That would show a sincere willingness on China’s part, and certainly we will hope that President Trump’s instincts are right. For now, it’s safe to assume that some of what may be going on in the markets is a bit of a knee-jerk reaction, and things could settle down. We won’t know that until we hear more rhetoric coming out of both China and the U.S. and we see how negotiations go on Thursday.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on about 650 radio stations nationwide, as well as several television networks.
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To interview Dan Celia of Financial Issues Stewardship Ministries, contact Media@HamiltonStrategies.com, Patrick Benner, 610.584.1096, ext. 104, or ext. 102.