WASHINGTON DC – US President Donald Trump said his country is taking advantage of China’s trade dispute as China lost millions of jobs in a short time due to companies relocating to other countries.
“If you look at China, China has had the worst year they’ve had in 27 years. And they want to make a deal with us, but I can tell you I’m not ready to make a deal. Unless they’re going to make the right kind of a deal, I’m not ready to make a deal. So I don’t know, but I will say this: Something will happen. It may be soon; it may be a little bit later. But China very much wants to make a deal,” the US president told reporters before a meeting with his Romanian counterpart, Klaus Iohannis.
The president’s comments in the Oval Office were posted on the official White House website.
Donald Trump stressed that his predecessors should have taken action on China, but they never did.
“Somebody had to do something with China. Obama should have done it. Bush should have done it. Clinton should have done it. They all should have done it. Nobody did it; I’m doing it,” he said.
Washington and Beijing are embroiled in a trade war after the US president announced in June 2018 the imposition of tariffs on Chinese imports to reduce the US trade deficit.
Since then, the two economic powers have been imposing reciprocal tariffs while trying to agree on their trade.
Trump’s tariff plans have roiled global markets and unnerved investors as the trade dispute between the world’s two largest economies stretches into its second year with no end in sight.
Growing concerns that the trade war could trigger a possible US recession weighed on financial markets last week and seemed to put administration officials on edge about whether the economy would hold up through the November 2020 presidential election.
Democrats on Sunday argued Trump’s trade policies were posing an acute, short-term risk. US stock markets tanked last week on recession fears with all three major U.S. indexes closing down about 3% on Wednesday, although they pared their losses by Friday.