President Trump feels growing military might of China could be a threat to the world as the country has lately hiked spending in the segment by 7 percent to USD 152 billion.
He said, “…they are building a military faster than anybody and frankly they are using US money.”
Blaming Beijing has stolen America’s intellectual property Trump added that China is trying to counter push of United States into the disputed South China Sea.
He blamed his predecessors for allowing China take away USD 500 billion annually and property rights.
The world’s two largest economics were very close to strike a trade deal earlier this year but negotiation failed at the last moment when China didn’t agree to the terms of US. Trump thereafter said to be charging 25 percent tariffs.
The two nations are currently locked into a trade war. Last year Trump imposed a tariff of up to 25 percent on USD 250 billion on Chinese goods. Beijing reciprocated by imposing tariffs on American goods worth USD 110 billion.
Very lately both the nations have resumed trade talks again and Trump said to strike a deal only when he is confident it is good for American goods.
Trump said, “We are taking hundreds of millions potentially over a short period of time, hundreds of billions of dollars’ worth of money is coming in from China that never came in before so China wants to make a deal.”
