Trump Announces China Trade Deal Flops, Says He’s Willing To Try Again With More Tariffs

President Trump said the current trade deal with China is a no-go.

In a series of tweets on Thursday, Trump said China was not fulfilling pre-trade deal agreements such as the agreement to buy more American products or stopping the sale of a dangerous drug known as Fentanyl.

Trump also said the trade representatives were having to go back to the drawing board after Chinese trade representatives wanted to renegotiate the deal just prior to signing it.

“Our representatives have just returned from China where they had constructive talks having to do with a future Trade Deal. We thought we had a deal with China three months ago, but sadly, China decided to re-negotiate the deal prior to signing. More recently, China agreed to buy agricultural products from the U.S. in large quantities but did not do so,” Trump tweeted.

“Additionally, my friend President Xi said that he would stop the sale of Fentanyl to the United States,” the US president continued, “This never happened, and many Americans continue to die!”

So, the two groups will look to reset their negotiation process and Trump announced he would be adding additional economic sanctions against China this go-around.


“Trade talks are continuing, and during the talks the U.S. will start, on September 1st, putting a small additional Tariff of 10 [percent] on the remaining 300 Billion Dollars of goods and products coming from China into our Country,” Trump continued in the tweets. “This does not include the 250 Billion Dollars already tariffed at 25 [percent].”

And: “We look forward to continuing our positive dialogue with China on a comprehensive Trade Deal, and feel that the future between our two countries will be a very bright one!”

Trump echoed the contents of the tweets during a campaign rally in Cincinnati on Thursday evening. There, as the Associated Press reports, Trump said: “We’re stopping the theft of American jobs.”

And:

Trump said Thursday that for the last two decades, China has taken hundreds of billions of dollars out of the U.S. He says, “We’re stopping the theft of American jobs.”

Trump says he believes China wants to make a new trade deal but he says he thinks China would prefer to wait for the results of the next presidential election.

The president says, “They would like to see a new president in a year and a half so they could continue to rip off the United States like they’ve been doing for the last 25 years.”

Politico has more on the additional tariffs:

President Donald Trump said Thursday he will ramp up the trade war against China by imposing a 10 percent tariff on roughly $300 billion worth of Chinese imports that haven’t already been hit with penalties.

The new tariff attack, which Trump said will take effect on Sept. 1, would have a more direct impact on U.S. consumers because the goods targeted include clothes, toys, cell phones, electronics, and other retail items.

And:

U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin returned this week from a brief round of talks in Shanghai, where the two sides failed to announce a major breakthrough in the negotiations. The two sides agreed to meet again in September.

Trump’s move to increase trade pressure on Beijing comes just a day after the Federal Reserve cut interest ratesfor the first time in more than a decade. Fed Chairman Jerome Powell said the cut was intended to keep the outlook favorable amid signs that trade tensions and slowing global growth are hurting the U.S. economy.

Note: The author of this article has included commentary that expresses an opinion and analysis of the facts.

DISCLAIMER: Views expressed in articles do not necessarily reflect the views held by Sarah Palin.


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