US President Donald Trump said Sunday that China, under pressure due to his policies, wanted to have a trade deal with him, but he told them a week ago that they were not ready yet. “I told them a week ago — they want to come in, they want to make a deal — I said, you’re not ready to make a deal,” Trump told reporters at the White House. The president explained that he does not believe that China is ready yet to have a trade deal.
“China wants to make a deal. China would love to make a deal. I don’t think they’re ready yet,” he said in response to a question. Over the last six month, the US has imposed additional tariff on import of more than USD250 billion products. He has threatened to add more.
Trump says that the bilateral trade between US and China is not fair and balanced. He has also accused China of intellectual property theft.
“I just don’t think they’re ready yet. They’ve made too much money for too long. What they’ve done to our country is take out anywhere from USD300 billion to USD500 billion a year…I have great respect for China and for President Xi in particular. We’ll probably make a deal, but I don’t think they’re ready,” Trump said.
Ever since he took over the administration, Trump said the US has become the strongest country economically. “You know, we’ve gained USD11 trillion in worth. China has lost many trillions of dollars. We’ve gained USD11 trillion in worth. So we’re, by far, the strongest military…in the world. And economically, we blow everybody away,” he asserted.
Source: Financial Express