Source: Chelsea Mes and Jefferey Black, FARM PROGRESS, 6/23/20


U.S. President Donald Trump said the phase one trade deal with China was “fully intact,” after his adviser Peter Navarro sowed confusion and spurred a temporary stock slump with comments interpreted as a decision to end the agreement. Navarro had responded to a long question by Fox News interviewer Martha MacCallum asking whether aspects of the deal were “over” by saying: “It’s over. Yes.” U.S. futures swung wildly with the yuan as the remarks caused concern that the deal signed in January, which paused the trade war between world’s two largest economies, was in jeopardy. Navarro later said his comments “have been taken wildly out of context.”

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