Left Menu
Development News Edition

China getting hurt by US tarrifs badly wants a deal with America says Trump

PTI | Washington DC | Updated: 12-06-2019 08:04 IST | Created: 12-06-2019 07:54 IST
China getting hurt by US tarrifs badly wants a deal with America says Trump
Trump said he expects to meet with Chinese President Xi Jinping very shortly, most probably on the sidelines of the G-20 Summit in Osaka, Japan, later this month. Image Credit: Wikipedia

China, badly hurt by increased American import tariffs, is desperate to have a trade deal with the US, President Donald Trump has asserted, as the trade war between the two economic giants appeared set to escalate in the coming weeks. "We're taking in billions and billions of dollars. Companies are leaving China right now and they're coming here because they don't want to pay the tariffs. They're going to other countries. I can tell you China would like to make a deal very badly. They're getting hurt very badly by the tariffs because companies can't pay the tariffs, so they're leaving China," Trump told reporters at the White House on Tuesday.

Responding to questions, Trump said that China "will subsidise companies so our taxpayer" is not paying for very much of it. "A report came out; they're paying for very little of it. But what it's doing is creating a fair playing field, which we've never had with China since the World Trade Organisation," he said.

Trump said he expects to meet with Chinese President Xi Jinping very shortly, most probably on the sidelines of the G-20 Summit in Osaka, Japan, later this month. "We had a deal with China and then they went back on the deal. They said, 'We don't want to have four major points, five major points'. So we changed it. But we had a deal with China. Unless they go back to that deal, I have no interest," he said.

"Right now, we're taking in billions and billions of dollars. What we've done in the last two and a half years, we've picked up USD 14 trillion in the net worth of the United States. China has gone down probably by USD 20 trillion. There's a tremendous gap. When I came in, that gap was getting very close," he asserted. Trump slammed former US vice president and Democratic presidential aspirant Joe Biden for being a "dummy" to China.

"Joe Biden thought that China was not a competitor of ours. Joe Biden is a dummy. Joe Biden thought China was not a competitor. China made USD500 billion, over a short period of time, against Obama, Biden -- and for many, many years, in all fairness to them," he alleged. "China is a major competitor and right now China wants to make a deal very badly. It's me, right now, that's holding up the deal. And we're going to either do a great deal with China or we're not doing a deal at all," he said.

"Right now, China is paying us billions and billions of dollars. They never gave us 10 cents. And China ate our country alive during Obama and Biden. They ate us alive. And then, Biden has some kind of relationship financially, or his son, with China? Tell me about that? Because China ate the United States alive economically, and it's a shame," he said. Later addressing a renewable energy meeting in Iowa, Trump said that the "colossal trade deficits" financed the build-up of China's infrastructure, military and technology at the expense of the American taxpayer.

"Now, in response to our economic self-defence China has levied unfair retaliation against the farmers and the ranchers but we've made up for that retaliation with the USD16 billion. …we had no choice. We want to get along with China, but we had no choice. I had great respect for the president of China, President Xi, but he's representing China and I'm representing the United States of America. Nothing much you can do about that," he said.


TRENDING

OPINION / BLOG / INTERVIEW

Pandemic must be impetus, not obstacle, for clean water access

To make matters worse, there are suspicions that the inadequacy of wastewater treatment methods in California, the rest of the USA, and indeed around the world may help to propagate the disease even more widely. ...

3D printing and the future of manufacturing post COVID-19

The on-demand, customizable, and localized manufacturing of product components facilitated by 3D printing has the potential to redefine manufacturing but there are certain technical, mechanical, and legal limitations that, unless ...

How UK’s 'best prepared' healthcare system failed to gauge COVID-19

The UK is proud of their public health system and its unlike any other country as around 90 percent of British public supports the founding principles of National Health Service. But without accurate data being available to stakeholders in ...

Poor on IHR capacity progress in 2019, WHO says Cambodia tops COVID-19 response

Despite being in proximity to Hubei, the original epicenter of COVID-19 pandemic, Cambodia has reported just 226 confirmed cases and zero deaths. After seeing the data, WHO appreciated Cambodias healthcare information system but experts dou...

Videos

Latest News

J-K LG approves grant of 'special move TA' of Rs 25,000 to employees irrespective of actual movement

Lieutenant Governor of Jammu and Kashmir Manoj Sinha on Saturday approved a grant of special move travelling allowance TA of Rs 25,000 to all employees irrespective of actual movement as a special case this year. Rohit Kansal, Jammu and Kas...

Deion Sanders takes aim at players who opt-out

Pro Football Hall of Fame cornerback and current NFL Network analyst Deion Sanders has taken issue with players who elect to opt-out on their respective upcoming seasons due to concerns surrounding the coronavirus pandemic. All Players OPTI...

Sixers' Simmons to have surgery on left knee

Philadelphia 76ers All-Star Ben Simmons will have potentially season-ending surgery on his left knee, the team announced Saturday. The 24-year-old guardforward will leave the NBA bubble near Orlando for the procedure. A timetable for his re...

Soccer-Juventus hand Pirlo his first manager's role

Serie A champions Juventus stunned Italian football on Saturday by naming World Cup-winning midfielder Andrea Pirlo as manager on a two-year contract even though their former player has no previous experience in the role.Pirlo, 41, was prom...

Give Feedback