Trump made several false claims about China paying tariffs, and tariffs boosting the US economy during a Monday Twitter lie spree.
Donald Trump, the self-proclaimed master negotiator, is not doing much to help the United States in trade negotiations with other countries.
Under his leadership, the trade deficit in goods with China set a new record during his second year in office. This came despite his efforts to stop what he has claimed are Beijing’s trade agreement violations.
In August, China’s trade surplus with the United States grew to a new record which is sure to “add fuel to the trade war fire.”
Customs data released over the weekend showed that the U.S. trade deficit with China was a record $31.05 billion in August, an increase from $28.09 billion in July, and exceeding the previous record which was set in June of this year.
In an editorial entitled The Trade Casualties Mount,” the editorial board of the conservative Wall Street Journal harshly criticized the trade policies of President Donald Trump and his trade representative Peter Navarro.
U.S. Treasury Secretary Steven Mnuchin on Thursday admitted that trade talks with China had “broken down” while China was calling the United States the “enemy of all” because of Donald Trump’s trade policies.
One thing lost in all the bad news for Donald Trump over the past week has been the looming trade war with China which has been called a “ticking time bomb” that is set to explode later this summer. However when it comes to the actual impact on people’s lives — especially millions of Trump voters — his tariffs and the trade war will be much more important than what happens on the Mexican border.
President Donald Trump on Friday morning made good on his promises that he wanted to have a trade war with China. In a statement the president said he was going to impose new tariffs on 1,102 Chinese products and they estimated the amount of the tariffs would be about $50 billion.