President Trump stated he will not negotiate a trade deal with China until the trade deficit, exceeding $1 trillion, is resolved. He highlighted the economic losses incurred and the urgency of addressing this issue while noting positive investments from tariffs. Trump affirmed his commitment to achieving a trade surplus rather than incurring continued losses with China.
President Donald Trump communicated on Sunday that he will not engage in trade negotiations with China unless the substantial trade deficit of over $1 trillion is addressed. While addressing reporters aboard Air Force One, he highlighted that other countries also contribute to trade deficits, but none compare to that with China, which stands at an alarming figure of over $1 trillion. Trump expressed, “I’m willing to make a deal with China, but they have to solve this surplus. We have a tremendous deficit problem with China… I want that solved.”
Additionally, Trump emphasized the positive impact of tariffs, stating that these measures have resulted in $7 trillion in committed investments aimed at enhancing automotive manufacturing, semiconductor companies, and various enterprises, reaching unprecedented levels. He disclosed that he has engaged with numerous leaders across Europe and Asia, all eager to negotiate; however, until the issue of trade deficits is resolved, he remains firm in his position.
He reiterated, “A deficit is a loss. We’re going to have surpluses, or we’re, at worst, going to be breaking even.” Trump specifically pointed out that the situation with China is particularly dire, characterizing the enormous deficit as unsustainable due to its magnitude. He concluded by reaffirming that his electoral campaign was rooted in addressing these critical trade issues.
In summary, President Trump maintains that a resolution to the significant trade deficit with China is a prerequisite for any trade deal. He articulates the losses incurred from this deficit and underscores the urgency for equitable trade arrangements. Moreover, he emphasizes the potential investment growth resulting from tariffs while maintaining engagement with leaders from other regions, yet remains firm on his stance against negotiation until deficits are rectified.
Original Source: www.foxnews.com
