The Dow fell over 600 points at the close on Friday after the China-U.S. trade war heated up with China retaliating on tariffs and Trump tweeting that he "ordered" American companies out of China.
"The market is doing great. Our country is doing great," he said at the G-7 summit in France.
"China called last night our top trade people and said 'let's get back to the table' so we will be getting back to the table and I think they want to do something," Trump said. "They have been hurt very badly but they understand this is the right thing to do and I have great respect for it. This is a very positive development for the world."
This morning, Jim Cramer tweeted that it doesn't matter whether or not Trump was actively talking to China because Trump cares about the market reaction.
"Whether they called or not by the president saying that he got calls...what that says is that, look, I really attacked them on Friday. Maybe I attacked them too hard. I'm willing to walk it back if the Chinese are willing to play ball. That's the way you know. They're looking in a vacuum and they're thinking, oh, come on. It's a lie. That's dumb. What matters. What he's saying is, listen, I'm willing to, I'm willing to make a deal again. I don't want to get too far afield," said Cramer.
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