Trump Declares No Deal with China Without Addressing Trade Deficit

President Trump declared that he will not negotiate with China unless the over $1 trillion trade deficit is resolved. He highlighted the impact of tariffs that have led to substantial investments in the U.S. economy. Trump’s firm position also reflects his discussions with various national leaders about trade, indicating a desire for equity in trade relationships.

President Donald Trump stated that he is unwilling to negotiate a trade deal with China until the significant trade deficit, exceeding $1 trillion, is addressed. During an interaction with reporters aboard Air Force One, he highlighted that while some countries have trade deficits of over a billion dollars, the situation with China is markedly worse, emphasizing the urgency of resolving this issue to proceed with trade negotiations.

Moreover, Trump noted that the tariffs implemented have facilitated about $7 trillion in committed investments into sectors such as automotive manufacturing and technology. He expressed that the U.S. is experiencing unprecedented levels of investment due to these tariffs. However, he maintained a firm stance regarding trade deficits, indicating that numerous leaders from Europe and Asia are eager to negotiate, yet he will refrain from doing so until a resolution is achieved regarding deficits.

In summary, President Trump has made it unequivocally clear that he will not engage in trade negotiations with China until the substantial trade deficit is resolved. He believes that the current deficit is unsustainable and detrimental to the U.S. economy. Furthermore, he underscores the positive impact of tariffs on investments within the country, hinting at a strategic approach to rectify trade imbalances before moving forward with deals.

Original Source: www.foxnews.com