President Donald Trump was elated following the first in-person meeting of his second term with Chinese President Xi Jinping.
“On a scale of zero to 10, with 10 being the best, I would say the meeting was a 12,” Trump said.
From the perspective of financial markets, the trade truce is a big nothing. At least economic relations with China are momentarily stable. Coincident with the trade truce, Trump ordered the U.S. military to resume testing nuclear weapons in response to the very rapid buildup of China’s nuclear weapons arsenal. By 2030, China’s goal is nuclear weapons parity with the United States. The decision to resume nuclear tests, which were halted in 1992 by former President George H.W. Bush, is also a response to Russia’s nuclear saber-rattling.
What, specifically, did Trump and Xi agree to?
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