WASHINGTON: US President Donald Trump today slammed China and America’s two neighbours – Canada and Mexico – for unfair trade practices, which he said is unacceptable.
“Farmers have not been doing well for 15 years. Mexico, Canada, China and others have treated them unfairly,” Trump tweeted as he assured his country to change this dynamic through his ongoing trade deals.
“By the time I finish trade talks, that will change. Big trade barriers against US farmers, and other businesses, will finally be broken. Massive trade deficits no longer!” he said.
The US and China have held trade talks to deescalate tensions between the two sides.
The world’s two largest economies have been at loggerheads over trade and industrial practices for months with the talks under way in the Chinese capital – the third formal round of negotiations.
The discussions are intended to ease tensions after Washington said it would follow through with tariffs on Chinese imports despite a truce reached between the two sides in the US last month.
“The US has made such bad trade deals over so many years that we can only WIN!” Trump said.
“China already charges a tax of 16 per cent on soybeans. Canada has all sorts of trade barriers on our Agricultural products. Not acceptable!” Trump said in another tweet.
Meanwhile, the White House said that the recently concluded trade negotiations in China focused on reducing the US’ trade deficit by facilitating the supply of agricultural and energy products to meet China’s growing consumption needs, which will help support growth and employment in the United States.
The US officials conveyed President Donald Trump’s clear goal for achieving a fair-trading relationship with China, it said, adding that the delegations will now report back to receive guidance on the path forward.
The meeting comes as fears of an all-out global trade war intensified after the European Union, Canada and Mexico drew up retaliatory measures to Washington’s stinging steel and aluminium tariffs that came into effect on Friday.
This article provided by NewsEdge.