Trump Says He Won’t Reduce Tariffs on China to Start NegotiationsPresident Donald Trump said he has no plans to reduce tariffs on Chinese goods in order to bring about negotiations, spurning a demand made by the Chinese Communist Party (CCP).

The Chinese commerce minister insinuated on May 2 that China would only come to the table following a cut in tariff rates by the United States. NBC’s “Meet the Press” anchor Kristin Welker referenced those remarks in an interview with Trump that aired Sunday, asking whether he would meet those demands. Trump promptly replied “No,” saying that China’s more recent signaling had been favorable about pending negotiations. He suggested that China’s public messaging was scattered, saying that “you have 15 different” people speaking for China.

Later on Sunday, aboard Air Force One, Trump told reporters that he wasn’t planning to speak with CCP leader Xi Jinping this week but said that lower-level officials for both nations were meeting. (More)

Buffett Says Recent Market Volatility ‘Really Nothing,’ Urges Investor CalmWarren Buffett urged long-term investors not to be shaken by short-term swings and focus on fundamentals amid recent market volatility. “What has happened in the last 30, 45 days … is really nothing,” Buffett told shareholders at Berkshire Hathaway’s annual shareholder meeting on Saturday in Omaha, Nebraska. “This has not been a dramatic bear market or anything of the sort.”

Buffett made clear that wild market swings, while unsettling in the moment, are nothing to panic about. “If it makes a difference to you whether your stocks are down 15 percent or not, you need a somewhat different investment philosophy,” he said. “The world is not going to adapt to you. You’re going to have to adapt to the world.”

He reminded attendees that Berkshire Hathaway’s stock has dropped by 50 percent three times in its history, and each time, the fundamentals of the company remained sound. “People have emotions,” he said. “But you got to check them at the door when you invest.” (More)