Trump Claims "Meaningful" Talks at the "Highest Level", China Doesn't Confirm

Trump eased back on China this morning. He claims China called him. No one can confirm. And Trump won't talk about it.

Futures recovered from an overnight dip on news Trump Seeks to Ease Tensions With China, G-7.

Mr. Trump on Monday said the U.S. negotiations with China were “much more meaningful than at any time.” Asked if he would consider delaying or canceling planned tariffs on China, he replied: “Anything’s possible.”

In softening his rhetoric, Mr. Trump also sowed some confusion. Mr. Trump said China had called U.S. officials on the previous evening and said “let’s get back to the table.” The spokesman for the Chinese Foreign Ministry, Geng Shuang, said he was “not aware of” such a phone call by China to the U.S.

A spokesman for the U.S. Trade Representative didn’t respond to questions about when the call took place and between whom.

Asked later in the day to clarify whom the calls were with, Mr. Trump said: “I don’t want to talk about calls. We’ve had calls. We’ve had calls at the highest levels.”

4-D Chess Not

Does anybody remotely believe the above synopsis as describe by Trump?

It's not 4-D chess, nor 3-D chess, nor any kind of chess as I have commented numerous times.

Tom Luongo has an excellent writeup on the subject.

Please consider Trump's Not A 4-D Chess-Player, He's A Very Simple Creature

If you listen to Trump carefully, seeing him for what he is not what you think he is, what you want him to be or, most importantly, what he wants you to see, you hear a man who fully believes the Fed controls the economy.

You hear a man that firmly believes in the power of the government to remake the world in whatever image it wants, whenever it wants. You hear a man so solipsistic he can only see the world in terms he defined more than thirty years ago.

You hear a man who fundamentally doesn’t believe trade results in both sides winning but that everyone either wins a deal or loses. If he didn’t extract maximum pain from the other side he ‘lost.’ It’s the source of Trump’s inherent mercantilism.

And that fault in Donald Trump’s character is leading him to ever more extreme behavior as he refuses to reconcile the world we have versus the world he wants. So he keeps pressuring, embarrassing and humiliating people he wants to make deals with. And when they refuse to do so, he explodes and, like a child who didn’t get his cookie, uses the power of the Presidency to still try to get what he wants.

Trump’s not a multi-dimensional analyst. He isn’t a 4-d chess player. He’s actually a very simple creature. He believes the crap spewed by CNBC. He’s hired advisers who worked there for pity’s sake.

​Liar's Poker

Trump has changed his tone on China at least three times in the last three days. He's been promising a deal with China for a year or so.

There's nothing "meaningful" about any of this.

It's a liar's poker game Trump is playing to get reelected.

Anyone with a bit of commons sense can see Trump is a very poor liar.

Mike "Mish" Shedlock

Comments (65)
No. 1-21
KidHorn
KidHorn

Trump has to go. Problem is all the dem candidates are worse. Best case scenario is Trump loses and the dem reneges on all their promises.

L.Ron.Hoover
L.Ron.Hoover

Golly gosh, you think the President is LYING to us? Troubling indeed....

Tony Bennett
Tony Bennett

The half life on THIS market intervention?

Weeks?

Days?

Hours?

The closer to "it" we get, the shorter the prop.

Realist
Realist

I agree. Trump is a simple man. He shows that in everything he does.

Multi-lateral trade deals; too complex; he can’t understand them. He prefers to deal with countries on an individual basis. He just about blew a gasket dealing with both Mexico and Canada together. Maybe some day, he will even get that deal signed. If it never gets signed, it doesn’t matter, as its 99% the same as the existing agreement.

On Friday he intensified the trade war with China. The Dow drops 623 points. OMG. Gotta turn this around. So he announces a wonderful new trade agreement with Japan (which will be pretty meaningless, even if he somehow manages to finally complete a trade deal). Plus, he is going to sign a great trade deal with his good friend, Boris Johnson. That should get the market up. However, Monday morning comes and the magic didn’t work. Dow futures are down several hundred points.

Okay. Better do something else.

Hey Media. China is calling us and desperately wants a deal. I will drop tariffs if we get a good deal. I will tell US companies that it’s okay to keep working with China, if we get a deal. Talks are at a very high level. Lots of calls going on. Things are great with China. I love Xi. We are great friends. Everything is okay. Nothing to worry about here.

The market goes up 200+ points.

Simple.

Meaningless.

Sechel
Sechel

i don't trust anything trump says. i wait for confirmation from another source first. and even if he does say it, he frequently changes his mind

Fulgurite
Fulgurite

Tomorrow is gold and silver options expiration and gold was slammed down pretty hard last night from $1550-ish to $1530.

I wonder if some people in the gold & silver futures markets are becoming VERY nervous at that $1550 level, and if there is a LOT of pressure on Trump to keep his big mouth shut for the next 24 hours until CME options are settled?

Matt3
Matt3

I think things are going wonderfully. We have more people working, less people on food stamps, lowest minority unemployment rates, incomes are up, the stock market is up, no new shooting wars, taxes are lower and low inflation. Just about anyone that puts out any effort, has been able to earn money in the last 2 years. I guess some people just don't want to enjoy life. Better to look for problems - real or imaginary.

Carl_R
Carl_R

This was the point I made in my comment on "Trump regrets not imposing..." I said that Trump is not trying to bully China. He simply believes trade is only good if you run a surplus, and since we don't run a surplus with China, having less trade with China is a good thing. I would add that I agree that while the stock market behavior sometimes persuades him to temper his comments, he clearly continues to believe that free trade is a bad thing.

Webej
Webej

Trump has been reduced to begging Xi & Zarif to come out and play!

Winning is so easy.

Augustthegreat
Augustthegreat

The chinese foreign ministry spokesperson formally denied having the calls

davebarnes
davebarnes

Can't he just nuke China and stop all the hurricanes?

Carlos_
Carlos_

"You hear a man so solipsistic he can only see the world in terms he defined more than thirty years ago."

This defines just about every conservative and Republican I have ever met. They tend to be science deniers and all tech scares them

Casual_Observer
Casual_Observer

When you don't have to be held accountable for telling any truths, then what's another lie ? Trump has been lying so long that even he has no idea of what a lie or truth is. If it comes out of his mouth, its a truth according to Trump.

Signed, A Trump Voter

Boot6761
Boot6761

When the Main Stream Media tells a lie it is Fake News....When Trump tells a lie its the "art of the deal"...China knows that Trump will blink and they will play this game of chicken with Trump until next summer...when the election creeps in....then they will take Trump down....picture Howie Mandell on the set of Deal or No Deal....and President Xi of China....slamming the Lid Down and shouting NO DEAL!!!

Greenmountain
Greenmountain

Someone please explain why stock traders continue to fall for this. Ok he is President - who simply loves to see the world jump to his daily tweets that we learn over and over again have no basis in fact . What is Wall Street thinking?

Tengen
Tengen

Kudos to Mish for the Luongo reference. He really wanted to support Trump, even recently, but reached a breaking point over tariffs, jawboning the Fed into cutting rates, and most of all aggressive foreign policy.

I don't get why some are still ardent Trump fans. If you loved 2016 Trump, it's tough to see how you can love 2019 Trump. They're very different creatures. The logic seems to be circular, that Trump is great because the MSM doesn't like him, and the MSM doesn't like Trump because he's great. The whole 4D chess/Q motif is perhaps the dumbest psyop I've ever seen (trust Sessions!), yet somehow still effective. People just desperately want to believe because the alternative is apparently too frightening.

HubbaBuba2
HubbaBuba2

If you

eugenioca
eugenioca

I'm very perplex about Trump. How can a man who is the US real estate tycoon perform such poor in the politics arena?. I've read a lot of books by Trump about real estate, and I read too books written together with Robert Kiyosaki and to be honest he doesen't seems to me a dumb guy, let alone a psycopath. So why all this posturing. It seems to me he knows well that the solution to trade imbalance between usa and china cannot be a trade war (it's actually a recipe for disaster). When he talked in Kiyosaki books about gold and what happened in 1971 he seemed to me a guy almost in the camp of austrians (and I think he invests his money following that line of taught). So, what I don't understand? Am I too naive? It's all about posturing and impending elections? What he want to obtain from Powell? And about China? Why not trying to change only the delta in the current trade imbalance situation?

JohnH
JohnH

Both parties stink. But, I think the Democratic Socialists are worse. So, in 2020 MAGA will become HYNAVFT (Hold Your Nose And Vote For Trump).

Expat
Expat

Trump negotiated a 5% discount off his Chinese take-away delivery by taking to the head waiter at Long Fat Won Hunan Kitchen. Very meaningful, very high level.