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[Markets] Trump "Not Happy With Border Wall Compromise", Open To Let China Tariff Deadline Slide "If Close To A Deal"

In what may be an attempt to send headline scanning algos buying on tilt, yet without losing face with his core base, moments ago Trump told reporters that he's "not happy" about the deal reached on Monday night to keep the government open past Friday, and while he did not say whether or not he would support the bill, he said would hold a meeting later today to consider the compromise.

"I can’t say I’m happy. I can’t say I’m thrilled,” Trump told reporters during a Cabinet meeting adding "It’s really obstruction” by Democratic lawmakers and that the tentative agreement is “not doing the trick” but that he may add to it.

The proposal would provide $1.375 billion in funding for roughly 55 miles of new barriers along the southern border, well short of the $5.7 billion Trump demanded.

Nonetheless, Trump said "I don't think you're going to see a shutdown. I wouldn't wanna go through it, no"

Needless to say, Trump's conservative critics were not happy, and Ann Coulter promptly blasted Trump tweeting that "Trump talks a good game on the border wall but it's increasingly clear he's afraid to fight for it.  Call this his "Yellow New Deal.""

So to offset any potentially bitter aftertaste, he also said that he is also open to letting the March 1 deadline to raise tariffs on Chinese products "slide" as talks to end the two countries’ trade war continue.

"I could see myself letting that slide" for a while "if we’re close to a deal" Trump said as stocks traded near session highs, and just above the 200DMA.

Some other headlines from the Trump press huddle:

  • TRUMP SAYS NO PLANS FOR NOW TO MEET XI IN MARCH
  • TRUMP SAYS HE WOULD BE OK WITH EITHER A DEAL OR TARIFFS W/CHINA

And now we await actual news out of the trade negotiations, although in a surprising burst of optimism, the Editor in Chief of China's Global Times tweeted earlier today: "What will happen on March 1? There are several possibilities. But I believe it is the least likely scenario that the two sides announce the negotiations fail and the trade war escalates."

Published:2/12/2019 11:55:09 AM
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