Following a meeting between officials of United States and China in relation to negotiations on trade issues president Trump said massive trade deficit cannot be allowed to continue.
The two countries have been locked in an escalating trade spat for about a year by raising import tariffs on good of each other.
Washington imposed tariffs of as much as 25 percent on Chinese goods and the same was reciprocated by China too on the goods being sourced from America.
Trump accused China of indulging in unfair trade practice and this led to huge trade deficit in the US.
However, very lately Trump said trade talks with China were in progress and going good.
Late last month a high level Chinese delegation led by the country’s Vice Premier Liu Hu met Trump in Oval Office and it was learned significant progress were made in the talks but nothing was final till then.
Briefing to the media Friday the president said, “If we make the deal with China, you’re talking about, it’ll be a different world for us. We lost $500 billion a year with China, for many years. We’re not going to do that anymore.”
Trump last met Chinese premier Xi last year on December 1 and both the leaders agreed to halt the trade war for 90 days and try to reach to a deal by March 1.
However, Trump threatened Friday he would go ahead with additional tariffs if trade deal is not reached by the said time.
Trump added, “Our relationship with China is extraordinary. My relationship with President Xi is better, I guarantee, than any relationship of a President and a President. It’s not even close. But it can’t go on this way. We can’t allow this to happen.”
