The U.S. President Donald Trump on Monday stated the United States has been losing around US$500 billion each year on trade with China and he also said that, he will no longer let that to happen anymore.
“The U.S. has been dropping, since many years, around 600 to 800 billion dollars per year on Trade. However, with China we lose about 500 billion Dollars. And, hence “we are not going to happen this anymore,” Trump stated in a report.
The statement, a follow up of a number of tweets per day previously, is indicative of the fact which Donald Trump does not want to wait for a longer period on trade negotiations with China and he also highly believing that Beijing purposely wants to postpone the trade talks.
Previously, a Chinese official in Beijing stated that China’s leading trade representative is preparing to travel to Washington for important talks.
Despite Donald Trump threatening to enforce more grueling taxes on US$ 200 billion worth of Chinese goods, citing slow progress in discussions.
“For more than 10 months, China has been paying charges to the United States of 25% on 50 billion dollars of High Tech, and 10% on nearly 200 billion dollars of other products,” Donald Trump stated in a tweet on Sunday.
These all payments are somewhat responsible for America’s economic results, Trump said.
“The 10% will go up to 25% of Friday. More than 325 billion dollars of further goods sent to us by China persist untaxed, but will be soon, at a rate of 25%,” he said.
President Donald Trump said the tariffs waged to the United States have had an influence on the good cost, mostly allowed by China. “The Trade agreement with China remains, but too slowly, as China attempt to renegotiate. Never!” Trump tweeted.
"China is considering stopping trade talks that are to restart in Washington on Wednesday," According to the report.