President Donald Trump He is unwilling to reach a deal with China unless the trade deficit exceeding $1 trillion is first resolved.
Speaking with reporters from the First Nations, Trump said that in some countries, the trade deficit is more than a billion dollars, but in China, that is more than a trillion dollars.
“We have a $1 trillion trade deficit with China. The tens of billions of dollars we lose to China every year, unless we solve this problem, I will not reach an agreement,” he said. “I am willing to make an agreement with China, but they have to solve this surplus. We have a huge deficit problem with China…I hope to solve this problem.”
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President Donald Trump said he would not reach a deal with China unless the trade deficit was resolved. (AP Photo/Evan Vucci/Istock)
Trump also said that the U.S. has $7 trillion in investment in building auto manufacturing plants, chip companies and other types of businesses due to tariffs, “at a level we have never seen before.”
But in terms of trade deficits, Trump said he has spoken with many leaders in Europe and Asia who are “dying” to reach a deal, but he wouldn’t do that as long as there is a deficit.
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“The deficit is a loss,” he said. “We will have a surplus, or the worst thing is to break. But China will be the worst in the group because the deficit is so big and it is unsustainable.
“I’m elected,” Trump added.
