Trump: China, other nations have become 'spoiled' on trade
WASHINGTON (Reuters) - President Donald Trump said on Thursday that China and other countries had become 'very spoiled' on trade, as U.S. and Chinese officials hold high-level talks in Washington on trade ties. Trump told reporters in the Oval Office that he doubted the trade talks with China would turn out to his satisfaction.
WASHINGTON (Reuters) - President Donald Trump said on Thursday that China and other countries had become "very spoiled" on trade, as U.S. and Chinese officials hold high-level talks in Washington on trade ties.
Trump told reporters in the Oval Office that he doubted the trade talks with China would turn out to his satisfaction.
“The reason I doubt is because China has become very spoiled. The European Union has become very spoiled," Trump said. "Other countries have become very spoiled because they always got 100 percent of whatever they wanted from the United States. But we can’t allow that to happen anymore."
Trump, echoing a theme of his 2016 election campaign, said that the United States has been "ripped off" by China for years on trade.
"We have been ripped off by China, an evacuation of wealth like no country has ever seen before, given to another country that's rebuilt itself based on a lot of the money they've taken out of the United States, and that's not going to happen anymore," the president said.
The United States ran a trade deficit with China of $375.2 billion in 2017, according to U.S. government data. In the first three months of 2018, the shortfall was $91 billion.
In this round of talks, the United States and China are trying to avert a damaging tariff war, with the Trump administration demanding a $200 billion cut in China's U.S. trade surplus and greater protections for intellectual property.
Trump has threatened to impose up to $150 billion in punitive tariffs to combat what he says is Beijing's misappropriation of U.S. technology through joint venture requirements and other policies. Beijing has threatened equal retaliation, including tariffs on some of its largest U.S. imports, including aircraft, soybeans and autos.
(Reporting by Steve Holland; Writing by Justin Mitchell; editing by Grant McCool)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Guinea president 'captured', govt dissolved, claim army putschists'; attack on presidential palace repulsed, say authorities
Reports suggest that they captured President Alpha Conde and dissolved the government, bust the ground situation remains unclear
NEW YORK (Reuters) -The price of cryptocurrencies plunged and crypto trading was delayed on Tuesday, a day in which El Salvador ran into snags as the first country to adopt bitcoin as legal tender. Shares of blockchain-related firms also fell as crypto stocks were hit by trading platform outages. But the major focus was on El Salvador, where the government had to temporarily unplug a digital wallet to cope with demand.
By Joseph White and Sanjana Shivdas (Reuters) -The head of Apple Inc's car project, Doug Field, is going to work for Ford Motor Co to lead the automaker's advanced technology and embedded systems efforts, a hiring coup for Ford Chief Executive Jim Farley.