Trump Dismisses Recession Fears, Business With Huawei
“We’re doing tremendously well.” That’s how President Donald Trump characterized the U.S. economy’s performance amid fears it’s headed into a recession. Celebrating his tax cut as having “loaded up” consumers with cash, he also played down the prospect of securing a trade deal with China. Meanwhile, Trump also dismissed reports suggesting his administration would extend the Chinese telecom giant Huawei’s exception from a national security blacklist for 90 days.
Why does it matter? Amid concerns of a global economic slowdown and trade uncertainty, allowing Huawei more time to purchase vital U.S. components would’ve been seen as an olive branch to Beijing — and a sign that talks toward lifting tariffs might succeed.