A reporter asked Trump:

“Are you open to pulling back your tariffs in order to get China to the negotiating table?”

Trump replied : “No.”

I wouldn’t take this at face value. What’s he going to say? Yes he is? Before the meeting in Switzerland on the weekend?

You don’t have to have studied The Art of the Deal to know that you shouldn’t make an offer through the media before a meeting.

He talked about Gaza and India as well and the only other comments on the trade war were:

• Says he doesn’t know on tariff exemptions
• Will take a look at tariff exemptions

These comments and the more-hawkish lines from the Fed are weighing on stock markets.