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May 29, 2020 President Donald Trump announced on Thursday that he would hold a press conference "on China" the next day, but did not give details on the timetable and the topic, however the announcement alone caused the markets to collapse.However, the president wrote on Twitter "CHINA !!!"
CHINA!
- Donald J. Trump (@realDonaldTrump) May 29, 2020Markets in suspense Swinging
bags, awaiting President Donald Trump's press conference on China, after the simple announcement had sent Wall Street red on Thursday. Uncertainty remains as Trump may limit himself to making a minor announcement.
Markets fear that the White House tenant may announce new sanctions or punitive measures against China. After criticism for the management of the coronavirus emergency, the president did not digest the new national security law imposed in Hong Kong, which jeopardizes the autonomy of the former British colony, also from a financial point of view.
According to CNBC, the Trump administration has been increasing pressure on Beijing for weeks, starting with the alleged cover-up of the first coronavirus cases, for which the American president has publicly blamed China. Not just for spreading the virus, but also for the severity with which the pandemic hit the United States.
Other potential issues on the table are the dispute over the border between China and India, for which Trump has offered to mediate, and Trump's possible decisions regarding China's treatment of the Uighur ethnic minority.