Trump’s Two Minds on China Sow a Chaotic Few Days

Just days ago, President Trump indicated his trade war with China was entering a more belligerent phase. China’s new, “unheard of” controls on rare earth minerals were “sinister and hostile” and a “moral disgrace,” he fumed, vowing to hit back with 100 percent tariffs on all products from China.

“The rest is History,” he said in a social media post.

Just 48 hours later, Mr. Trump appeared eager to rewrite that history.

President Xi Jinping of China was only having a “bad moment,” Mr. Trump said on social media on Sunday. “Don’t worry about China, it will all be fine!” He reassured his followers that the United States “wants to help China, not hurt it!!!”

The dueling messages appeared to provide a window into an internal tug of war for Mr. Trump over the best way to approach China on trade issues. He has repeatedly seesawed between retaliation and reconciliation, rattling markets, sending businesses scrambling and leaving questions about whether he has a larger strategy.

At times, Mr. Trump has taken steps to “decouple” the United States from China, threatening severe tariffs, moving to suspend sales of critical technology and even revoking the visas of Chinese students. But with a potential meeting with Mr. Xi expected this month, Mr. Trump and his aides have also struck a conciliatory tone in hopes of reaching a trade agreement and cementing Mr. Trump’s self-described role as a master deal maker.

Both approaches were on display in recent days.

Markets in the United States plunged on Friday amid Mr. Trump’s threats, and then rebounded some on Monday as he seemed to back off. Stocks in Asia, which had closed for the week before Mr. Trump’s bellicose turn, fell on Monday amid fears of an intensified trade war.