Trump Claims China Not to Blame For Unfair Trade With US

November 9, 2017 Share Print 0

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

Senior Market Analyst, UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.