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 tariffs on the import of more than $250 billion products. He has threatened to add more.
Trump says that the bilateral trade between the 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 $300 billion to $500 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 $11 trillion in worth. China has lost many trillions of dollars. So we're, by far, the strongest military...in the world. And economically, we blow everybody away, he asserted.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.