Trump Refuses Trade Deal with China Until Trade Deficit is Addressed

President Trump declared that the U.S. will not negotiate with China unless the trade deficit of over $1 trillion is resolved. He noted that tariffs have led to major investments in various industries but insisted that trade discussions cannot proceed as long as deficits persist. Trump reiterated the importance of achieving trade surpluses.

On Sunday, President Donald Trump asserted that the United States will not engage in any trade deal with China until the substantial trade deficit of over $1 trillion is addressed. Speaking to reporters aboard Air Force One, he emphasized the discrepancy in trade with various countries, noting that while some nations have deficits exceeding a billion dollars, China’s deficit remarkably surpasses the trillion mark.

Trump stated, “We have a $1 trillion trade deficit with China. Hundreds of billions of dollars a year we lose to China, and unless we solve that problem, I’m not going to make a deal.” He expressed a willingness to negotiate, contingent upon China resolving the significant trade surplus that exists.

Furthermore, Trump highlighted the positive impacts of tariffs, claiming that they have generated $7 trillion in committed investments for industries such as automotive manufacturing and chip companies, which he described as unprecedented. He acknowledged receiving interest from European and Asian leaders in negotiations but reiterated that any discussion of deals is futile until the trade deficits are rectified.

Referring to trade deficits as detrimental, Trump remarked, “A deficit is a loss. We’re going to have surpluses, or we’re, at worst, going to be breaking even.” He classified China as particularly detrimental due to the enormity of the deficit and reaffirmed his electoral mandate regarding this issue, asserting, “I was elected on this.”

In summary, President Trump has firmly stated his position that any trade deals with China are contingent upon addressing the significant trade deficit, which exceeds $1 trillion. He remarked on the positive developments arising from tariffs and expressed a strong commitment to ensuring that the U.S. achieves trade surpluses rather than continued deficits.

Original Source: www.foxnews.com