Trump on China Tariffs: 'They Have to Make a Deal'

Trade Negotiations with China

• 🇺🇸 President Trump stated that negotiations with China are progressing, pushing back against claims that the trade war is unsustainable.
• 💰 He highlighted that the US is now collecting significant revenue from tariffs, including 25% on automobiles, steel, and aluminum, and 10% on other goods.
• 📉 Trump contrasted the current situation with the past, stating the US was losing "$5 billion a day" on trade during the previous administration.

US Trade Policy and Tariffs

• 🎯 The President emphasized that the US is no longer being "ripped off" by other countries and is turning the country around, starting with trade.
• 🤝 Trump asserted that other countries want to engage with the United States because "we have something they want and they want very badly."
• 🏭 He mentioned that if countries build their products in the United States, there would be no tariffs, welcoming such investment.

Setting the Terms of Trade

• ⚖️ Trump warned that if China does not agree to a deal, the US will "set the deal" because "we're the ones that set the deal."
• 🌍 He indicated that the US is engaging with many countries to gather their views on trade matters, referencing VAT taxes and other trade mechanisms.
• 🇪🇺 The President cited the European Union as an example of a bloc that was set up to take advantage of the United States, but stated this is no longer the case.