President Trump declared that the U.S. will not negotiate with China unless the $1 trillion trade deficit is resolved. He noted significant investments resulting from tariffs and emphasized the need for surpluses. Trump highlighted the consensus among other global leaders to reach trade agreements but maintained that they hinge on addressing deficits first.
President Donald Trump stated on Sunday that he refuses to negotiate with China concerning trade matters until the significant trade deficit exceeding $1 trillion is effectively addressed. Speaking to the media aboard Air Force One, Trump highlighted that while some countries have trade deficits surpassing a billion dollars, the figures with China are markedly larger, exceeding one trillion.
Trump emphasized, “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 his willingness to negotiate with China, contingent upon resolving the surplus issue, underpinning the necessity to address the substantial trade deficit.
Furthermore, Trump noted that due to current tariffs, there has been a significant commitment of investments, amounting to $7 trillion in sectors such as automotive manufacturing and semiconductor companies. These investments, he asserted, are unprecedented in scale.
Despite interest from various European and Asian leaders in reaching a trade agreement, Trump stated, “as long as there are deficits, he is not going to do that.” He reiterated his stance by explaining, “A deficit is a loss,” insisting on achieving surpluses or at the very least, breaking even, while singling out China as the principal concern due to the unsustainable deficit level.
Trump concluded by reflecting on his electoral promise related to trade issues, affirming his commitment to addressing the significant trade imbalances.
In summary, President Trump’s firm stance on U.S.-China trade negotiations is contingent upon resolving a more than $1 trillion trade deficit, which he described as unsustainable. He highlighted potential investments resulting from tariffs and expressed that trade agreements with other nations will also remain on hold until deficits are addressed. Ultimately, Trump remained resolute in his objectives to ensure beneficial trade outcomes for the United States.
Original Source: www.foxnews.com
