Donald Trump claims China markets crashed on Iowa caucus victory
“I felt very badly for them. China had a crash yesterday in their stock market. You know why? Because I won Iowa,” Trump said Tuesday night while campaigning in New Hampshire, the next state in the Republican nomination calendar. “Literally, as soon as those numbers started coming in yesterday, they had a crash - of big - one of the worst numbers that they’ve had in years.”
Trump said that highlighted Beijing’s concerns that he would take a tougher approach to US-China ties even as he characterised his relationship with Chinese President Xi Jinping as “great”.
“I love China. I love everybody but they can’t take advantage of us,” he continued. “That tells you what it’s about. If I get in they know it’s not going to be so good for them.”
01:13
Trump clinches Iowa caucus as he seeks third consecutive nomination for US presidential election
Trump clinches Iowa caucus as he seeks third consecutive nomination for US presidential election
The Nasdaq Golden Dragon China Index, a gauge tracking Chinese companies listed in the US, fell 3.8 per cent overnight to the lowest level since November 2022. Chinese electric vehicle maker Nio Inc. and Internet giant Baidu Inc. were among the biggest losers.
“It’s very Trump style,” said Willer Chen, an analyst at Forsyth Barr Asia Ltd. “Personally, I don’t think the drop is related to that. It’s more about China market’s own problem, I would say. But Trump for sure would love to link that to his victory.”
Trump’s return could see US allies pursuing more independent policies: analysts
Trump’s campaign event in Atkinson, New Hampshire came a day after he scored a resounding victory in Iowa, well ahead of his two chief rivals Florida Governor Ron DeSantis, who came in second, and former South Carolina governor Nikki Haley who finished in third.
The win takes Trump one step closer to seizing the Republican nomination, with polls also showing him leading in New Hampshire, though by a smaller margin than in other early voting states.
Trump’s commanding grip on the Republican presidential contest has other nations worried about his possible return to the White House and the consequences it could hold for the rest of the world.
A Trump victory could usher in changes for US policy on trade, taxes and security.
ncG1vNJzZmivp6x7tK%2FMqWWcp51ku6bD0miuqKqcmXy2usitnJ1lo6mutbHSZpqappGZrnCt0a2gnKSVZIBzgJdwZ21nlKS7orjDZqurrZ2leqS4wKKkrGWTnbavrYymmKujlanAbq%2FRmqqhnZRitrDDwGaamq2TqsBuwsicq6iqqQ%3D%3D