Trump Says China Trade Deal Still On Table After Receiving A Beautiful Letter From President Xi
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[Trump Says China Trade Deal Still On Table After Receiving A Beautiful Letter From President Xi]
Are you going to meet with him?
[The President:] Source: LYBIO.net
I will say this: Once the tariffs went on, they upped the meeting. It was supposed to take place originally on Thursday. Then, about five weeks ago, they said, “How about Friday? How about next week?” I said, “What’s this all about?” And I said, “That’s okay, let’s – don’t worry about it. Let’s take in $100 billion a year.” And we put the tariffs on, we made the statement, and then they upped the meeting. “How about let’s go back to Thursday?”
So I have no idea what’s going to happen. I did get, last night, a very beautiful letter from President Xi. “Let’s work together. Let’s see if we can get something done.” But they renegotiated the deal. I mean, they took – whether it’s intellectual property theft, they took many, many parts of that deal and they renegotiated. You can’t do that.
And I’m different than a lot of people. I happen to think that tariffs for our country are very powerful. You know, we’re the piggybank that everybody steals from, including China. We’ve been paying China $500 billion a year for many, many years. China rebuilt their country because of us. They couldn’t have done what they’re doing. They’re building a ship every three weeks. They’re building aircraft like you’ve never seen. Fighter jets. I respect it. I don’t blame them. I blame our past leadership for allowing this to happen.
What I’m doing now with China should’ve happened many years ago. Not just Obama; long before Obama. I always say – you know, if you look, NAFTA is one of the first deals ever made – trade deal. But the worst trade deal ever made is the WTO, because China was flat-lining for many, many decades. Many, many – it was flat, right here. The WTO came along. We allowed China into the WTO, and they became a rocket ship. You got to take a look at a chart sometime. Do it. It’ll be very interesting. An economic chart.
They’re here, and they went up like a rocket ship. Well, they did it with our money – and others’ – and they did it because they’re very smart, and they’re good people. And I like the President a lot; he’s a friend of mine. But I’m representing the USA, and he’s representing China. And we’re not going to be taken advantage of anymore. We’re not going to pay China $500 billion a year. So we put very heavy tariffs on China, as of Friday, and we put them on, also, eight months ago.
And when people looked at the economic numbers, they were shocked. When they looked at the import/export numbers, they were shocked. They said, “Wow, how did they get to this point? This was very good. That was a very good report.” They’d never seen that for many years. I said, “Try looking at all of the tariffs that China has been paying us for the last eight months.” Billions and billions of dollars. And that’s only because I gave them a break – because we were negotiating good will. We were negotiating. I gave them a break. And I said, “Let’s keep it at 10 percent instead of 25 percent.”
So now, what we’re doing is we’re raising it to 25 percent on Friday, so it will be $250 billion at 25 percent, and it’ll be $325 billion at 25 percent. And we’re starting that paperwork today. So we’ll see.
But you know what? As President of our country, I had to do something about it. And as President of our great country, we’re going to be taking in more money than we’ve ever taken in. And all of these countries – many of them have taken advantage of us, including our allies. They’ve taken advantage of us on trade. They’ve taken advantage of us on military. We defend all these countries for nothing, or for a tiny fraction of what it costs. We take care of NATO. I’m all of for NATO. I’m all for NATO. And I think it’s just wonderful, but it’s different than it was 25 years ago and 40 years ago.
And I got NATO to put up an extra hundred billion dollars. Ask Secretary General Stoltenberg. He’s like Donald Trump’s biggest fan. Because spending was going down. The contributions that the 28 countries were making, it was heading like a slope down, like a very steep mountain. And then I came, and it went up. Like China, it went up like a rocket ship, okay?
But I don’t like seeing people take advantage. We pay for – anywhere from 70 to 100 percent of NATO. So we protect NATO. We protect European countries. And we protect them, and we protect them beautifully. We’re the power. We’re the most powerful nation, especially since we’ve redone our military, redoing and done all of the nuclear. You never want to use it but you have to have it.
But we’ve spent – and I thank Congress for this – $700 billion, and then 717 – 16 – billion dollars on our military. Our military, when I came to office, was totally depleted. We now have, by far, the strongest military in the world. But we defend countries.
When you look at our budget – so we’re at $716 billion, and Russia is at $68 billion. How do you figure that? Because Russia doesn’t go around defending every country in the world and not getting paid for it. And you know what? I don’t mind not getting paid. If there’s a country that’s been horribly treated, and lots of bad things are happening and they’re not a rich country.
But when we defend the richest countries in the world, and they don’t pay us for what we do, and frankly, they go back into closed meetings and they laugh at the stupidity of the United States for doing it – these are countries with nothing but cash. They could very easily – I told the story last night: I picked up $500 million with one phone call to a country. And that’s just the beginning. And I’ve done it with many other countries.
Anyway, but just over the last very short period of time – one phone call that lasted for a period of, I would say, five minutes, I picked up $500 million because I said, “You’re not taking care of us. We’re taking care of you, but you’re not taking care. It’s not fair.”
So, really, the word is “not fair.” NATO doesn’t treat us fairly at all, but now they’re starting to pay. And if you look at Mr. Stoltenberg, he will tell you he’s never seen anything like it. A hundred billion dollars. And that’s a low number. They’re paying $100 billion more.
But how do feel about this: Germany. You’re supposed to be paying 2 percent; Germany is paying 1 percent. They say 1.3, but call it 1 percent, because it really is closer to 1 percent.
[The President:] Source: LYBIO.net
Germany pays to Russia billions of dollars a month for the pipeline, and yet we’re supposed to be defending Germany from Russia. So Germany is giving the so-called “enemy” – I don’t call it an “enemy”; I want to get along with Russia and I want to get along with China, because I’m smart. Stupid people don’t want to get along. Because I’m smart. This witch hunt hurt us in our relationships with a lot of countries. It was a very expensive, horrible thing for our country.
And, by the way, should never, ever happen again to a President. Two years I’ve been going through this nonsense. And now we have a good report. And now guys like Jerry Nadler, who I fought for many years – successfully, I might add – back in New York, in Manhattan. He was a Manhattan congressman. I beat him all the time. And I come to Washington and now I have to beat him again – over nothing. Over nothing. Over a hoax.
And they know it’s a hoax. They’re smart. Nadler is a smart guy. Schiff is a smart guy. When Schiff goes to the microphone, he’s conning this whole country. And he knows that. And he goes back into a room, and he talks to his friends, and he laughs. Because that’s the way life is.
But our country is doing great. We’re going to find out about China tonight. And I think, in the end, you’re going to be very impressed with the kind of things we’re doing.
And the reason they were so surprised with the numbers two, three weeks ago – not the 3.2 GDP, which everybody was surprised at – but maybe, more importantly, export numbers, import numbers. Because we have billions of dollars coming to our country that our country never would have seen with a regular President. This should have been done many years ago.
And I told President Xi of China, and I tell Abe, who is a good friend of mine – Prime Minister of Japan. Doing a great job. I tell him, I tell everybody – I say, “I don’t blame you. I blame the people that ran the United States, and I blame their trade representatives. And frankly, I blame our Presidents. Because this should have never happened.” We’ve been losing, for years, close to $800 billion – not million – $800 million is a lot, but we’ve been losing 800 billion dollars on trade. Eight hundred billion dollars. We’re going to stop that. And we’ve already started.
[The President:] Source: LYBIO.net
So we have a meeting tonight at 5 o’clock with the top people from China, and we’ll let you know what happens.
Thank you all very much. (Applause.)
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Trump Says China Trade Deal Still On Table After Receiving A Beautiful Letter From President Xi. I did get, last night, a very beautiful letter from President Xi. “Let’s work together. Let’s see if we can get something done.” Complete Full Transcript, Dialogue, Remarks, Saying, Quotes, Words And Text.