Donald Trump's admission that he's having 'second thoughts' about his China trade war is being 'greatly misinterpreted,' the White House says.
His press secretary claimed in a statement to reporters on Sunday afternoon that Trump's only regret is that he didn't hit China harder with tariffs.
'President Trump responded in the affirmative - because he regrets not raising the tariffs higher,' said Stephanie Grisham.
Trump raised existing tariffs on $250 billion of Chinese goods to 30 percent on Friday after Beijing slapped penalties on $75 billion worth of U.S. products, and he has more in the hopper on computers and other goods that'll hit on Dec. 15.
Amid the dispute the Dow shed 623 points.
The president's economics advisers insisted on a series of Sunday morning programs, and to White House press in Biarritz attending the G7 summit, that Trump did not mean to intimate that he was rethinking his trade war.