The stock market, thus far, has not reacted well to the escalating tariff battle with China. But Donald Trump is urging patience.
Facing criticism for the new round of tariffs on Chinese goods, Trump defended his administration’s handling of the trade standoff with an economic superpower.
“China buys MUCH less from us than we buy from them, by almost 500 Billion Dollars, so we are in a fantastic position,” Trump wrote.
“Make your product at home in the USA and there is no Tariff. You can also buy from a non-Tariffed country instead of China.”
In one year Tariffs have rebuilt our Steel Industry – it is booming! We placed a 25% Tariff on “dumped” steel from China & other countries, and we now have a big and growing industry. We had to save Steel for our defense and auto industries, both of which are coming back strong!
— Donald J. Trump (@realDonaldTrump) May 14, 2019 [1]
China buys MUCH less from us than we buy from them, by almost 500 Billion Dollars, so we are in a fantastic position. Make your product at home in the USA and there is no Tariff. You can also buy from a non-Tariffed country instead of China. Many companies are leaving China…..
— Donald J. Trump (@realDonaldTrump) May 14, 2019 [2]
….so that they will be more competitive for USA buyers. We are now a much bigger economy than China, and have substantially increased in size since the great 2016 Election. We are the “piggy bank” that everyone wants to raid and take advantage of. NO MORE!
— Donald J. Trump (@realDonaldTrump) May 14, 2019 [3]
We can make a deal with China tomorrow, before their companies start leaving so as not to lose USA business, but the last time we were close they wanted to renegotiate the deal. No way! We are in a much better position now than any deal we could have made. Will be taking in…..
— Donald J. Trump (@realDonaldTrump) May 14, 2019 [4]
Billions of Dollars, and moving jobs back to the USA where they belong. Other countries are already negotiating with us because they don’t want this to happen to them. They must be a part of USA action. This should have been done by our leaders many years ago. Enjoy!
— Donald J. Trump (@realDonaldTrump) May 14, 2019 [5]
Trump is slated to meet with Chinese President Xi Xinping in Japan next month. Despite the standoff, Trump characterized their personal relationship as strong.
“When the time is right we will make a deal with China,” Trump said. “My respect and friendship with President Xi is unlimited but, as I have told him many times before, this must be a great deal for the United States or it just doesn’t make any sense.”
When the time is right we will make a deal with China. My respect and friendship with President Xi is unlimited but, as I have told him many times before, this must be a great deal for the United States or it just doesn’t make any sense. We have to be allowed to make up some…..
— Donald J. Trump (@realDonaldTrump) May 14, 2019 [6]
….of the tremendous ground we have lost to China on Trade since the ridiculous one sided formation of the WTO. It will all happen, and much faster than people think!
— Donald J. Trump (@realDonaldTrump) May 14, 2019 [7]
As for farmers — who figure to be among those most hurt by the continued trade tensions — Trump made a specific appeal, arguing that the short-term price is worth paying for long-term rewards.
“Our great Patriot Farmers will be one of the biggest beneficiaries of what is happening now,” Trump wrote. “Hopefully China will do us the honor of continuing to buy our great farm product, the best, but if not your Country will be making up the difference based on a very high China buy.”
Our great Patriot Farmers will be one of the biggest beneficiaries of what is happening now. Hopefully China will do us the honor of continuing to buy our great farm product, the best, but if not your Country will be making up the difference based on a very high China buy……
— Donald J. Trump (@realDonaldTrump) May 14, 2019 [8]
….This money will come from the massive Tariffs being paid to the United States for allowing China, and others, to do business with us. The Farmers have been “forgotten” for many years. Their time is now!
— Donald J. Trump (@realDonaldTrump) May 14, 2019 [9]