China President Xi Jinping’s administration continues to spar with Trump over a fair resolution to the ongoing trade war. The US commander-in-chief says China has been taking advantage of America for more than two decades.<\/p>\n
\nWhen the time is right we will make a deal with China. My respect and friendship with President Xi is unlimited, but as I have told him many times before, this must be a great deal for the United States or it just doesn’t make any sense,” Trump tweeted this morning. “We have to be allowed to make up some of the tremendous ground we have lost to China on trade since the ridiculous one-sided formation of the WTO (World Trade Organization).”<\/p>\n<\/blockquote>\n
There are some concerns that Xi could punish the three US casino companies in Macau to better his position in the trade discussions.<\/p>\n
“The US-owned Macau casinos are sitting on what could be called a geopolitical fault line,” gaming analyst Steve Vickers said in December. “To date, the Chinese have been quite careful not to escalate the conflict into a direct assault on US interests. But, it remains to be seen what the current attitude is towards Macau and the huge cash outflow associated with the large US casinos.”<\/p>\n
Sands is controlled by billionaire Sheldon Adelson \u2013 the largest political donor to the Republican Party in each of the last two election cycles. Steve Wynn, though no longer associated with his casino empire, has also been a staunch Trump supporter.<\/p>\n","protected":false},"excerpt":{"rendered":"
The US gaming industry is feeling the consequences of the escalating trade war with China, as both countries impose hundreds of billions of dollars in tariffs. With China unwilling to compromise on a trade deal with the US, President Donald Trump elevated tariffs on $200 billion worth of Chinese goods effective May 10. The increase […]<\/p>\n","protected":false},"author":25,"featured_media":104873,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,61],"tags":[],"acf":[],"yoast_head":"\n
US Gaming Industry Exposure to China Drives Stocks Down<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n