President Donald Trump stated on Sunday that he will not agree to a deal with China until the trade deficit of over $1 trillion is addressed.
During a conversation with journalists on Air Force One, Trump highlighted that while some countries have a trade deficit exceeding a billion dollars, the deficit with China surpasses $1 trillion.
“We have a $1 trillion trade deficit with China. We are losing hundreds of billions of dollars to China each year, and unless we resolve this issue, I am not interested in making a deal,” he asserted. “I am open to negotiating with China, but they need to address this surplus. Our deficit with China is a significant problem… I want it resolved.”
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President Donald Trump reaffirmed that he will not reach a deal with China until the trade deficit is resolved. (AP Photo / Evan Vucci / iStock)
Trump also mentioned that due to the tariffs, the U.S. has secured $7 trillion in committed investments for constructing automotive manufacturing plants, chip companies, and other businesses, “at levels that we’ve never seen before.”
Regarding trade deficits, Trump disclosed that he has engaged with several leaders in Europe and Asia who are eager to negotiate, but he stands firm on not making deals as long as there are deficits.
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“A deficit equals a loss,” he emphasized. “We aim for surpluses, or at the very least, breaking even. China would face the most challenges because of the substantial deficit, which is unsustainable.
“My election platform focused on this,” Trump reiterated.
