Trump: US Has ‘Little to Give’ in Trade Talks with China
President Donald Trump says the United States has "little to give" in contentious trade talks with China, and Beijing has a lot to give, because he says the United States for years has been losing trade battles with China.
Wednesday, he defended his call to rescue China's giant technology company ZTE, which the U.S. Commerce Department last month barred from buying American-made components for its consumer products for seven years after it was caught violating U.S. trade bans with Iran and North Korea. ZTE said with the cut in U.S. parts it had ceased "major operating activities."
"Nothing has happened with ZTE except as it pertains to the larger trade deal," Trump said on Twitter. His assessment came days after he said "too many jobs" were being lost in China because of ZTE's difficulties and that he had "instructed" the Commerce agency to "get it done!" to help ZTE "get back into business, fast."
The U.S. and China, the world's two biggest economies, are in the midst of contentious trade talks this week in Washington, after Trump threatened to impose higher tariffs on $150 billion worth of Chinese exports and Beijing responded in kind to say it would impose higher levies on American products. Earlier talks in Bejing proved fruitless.
"Our country has been losing hundreds of billions of dollars a year with China," Trump said of last year's $375 billion annual U.S. trade deficit with China.
Source: Voice of America