President Trump has stated he will not negotiate a trade deal with China until the trade deficit of over $1 trillion is resolved. He highlighted significant investments due to tariffs and emphasized the need for trade surpluses or breaking even in trade activities. Trump’s focus on addressing the deficit reflects his electoral commitment.
On a recent flight aboard Air Force One, President Donald Trump declared that he is unwilling to engage in trade negotiations with China until the nation addresses its substantial trade deficit, which exceeds $1 trillion. He noted, “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.”
The President has expressed readiness for a deal with China but emphasized the need for the resolution of this surplus issue, stating, “I want that solved.” Trump mentioned that the implementation of tariffs has stimulated approximately $7 trillion in investments towards American manufacturing sectors, including automotive and chip companies, leading to unprecedented levels of commitment in these areas.
Regarding discussions with other global leaders, Trump remarked that, despite interest from many in Europe and Asia to establish trade agreements, he cannot pursue these negotiations while trade deficits remain a concern. He asserted, “A deficit is a loss,” and asserted the need for the United States to achieve trade surpluses or at the very least maintain a break-even point in trade activities.
He underscored China’s trade deficit as particularly problematic, stating, “China would be the worst in the group because the deficit is so big, and it’s not sustainable.” He concluded by affirming, “I was elected on this,” highlighting his electoral commitment to addressing trade imbalances.
In summary, President Trump is firm in his stance that no trade deal with China will occur until the substantial $1 trillion trade deficit is adequately addressed. With significant investments taking place due to tariffs, he remains focused on the broader issue of trade deficits with multiple countries. Trump’s commitment to achieving either trade surpluses or maintaining balance underscores his administration’s approach to international trade negotiations.
Original Source: www.foxnews.com
