Trump Claims China Not to Blame For Unfair Trade With US

President Donald Trump said China is taking advantage of American workers and American companies with unfair trade practices, but he blamed his predecessors in the White House rather than China for allowing the massive U.S. trade deficit to grow.Speaking alongside President Xi Jinping on Thursday at a briefing in Beijing, Trump’s words were in contrast to what he said was a “very good chemistry” between the two leaders as they announced $250 billion in investment deals, many of which came in the form of tentative agreements.But Trump’s comments amounted to a sharp critique of what he labeled predatory Chinese policies that tilted the benefits of trade away from the U.S. economy.The trade relationship “between China and the U.S. has not been a very fair one, as we all know America has a huge annual trade deficit with China, a number beyond anything that anyone would understand,” Trump said. “Both the United States and China will have a more prosperous future if we can achieve a more level playing field.”

Source: Trump Hits China for Unfair Trade But Blames Past U.S. Leaders – Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.