ruin his infrastructure construction plan, i.e. the cost for infrastructure investment will be too high. 2. High rate will affect Wall Street stocks. Trump's MAGAnomics is mainstreet economy, but Trump is in the trade war with China. He needs a good looking of Wall street stock to win the trade war with China. The reason why China was firm at beginning of trade war is because China hope 1 Trump would suffer big loss in midterm and would be forced to make a change 2. A bad Wall street market. But after seeing R increased control of senate and Trump's rural/rusty belt supporters are strongly behind Trump in midterm, China know they can't win the trade war. So they immediately suggest a truce and are ready to make concession. Without infrastructure and trade war, Trump doesn't give a damn to interest rate.