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China hurt by US tariffs, wants deal with America very badly: Trump

Thursday, June 13, 2019

Washington: 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 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.

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