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Saturday, December 14, 2019
HomeNewsEconomyTrump Slams “Stupid Trade” as Deficit With China Widens

Trump Slams “Stupid Trade” as Deficit With China Widens

President Donald J. Trump, right, and Chinese President Xi Jinping, left. (Photo: Reuters)
President Donald J. Trump, right, and Chinese President Xi Jinping, left. (Photo: Reuters)

President Donald J. Trump, right, and Chinese President Xi Jinping, left. (Photo: Reuters)

President Donald Trump slammed “stupid trade” after the U.S. Census Bureau and Bureau of Economic Analysis said the trade deficit was $57.6 billion in February. That’s up $0.9 billion from $56.7 billion in January, much of it from the politically-sensitive deficit with China and Mexico.

The deficit with Mexico widened by $1.0 billion to $6.6 billion in February. Exports fell less than $0.1 billion to $21.9 billion and imports increased $0.9 billion to $28.5 billion.

The deficit with China came in at an astonishing $34.7 billion for the month.

“When a car is sent to the United States from China, there is a Tariff to be paid of 2 1/2%. When a car is sent to China from the United States, there is a Tariff to be paid of 25%,” President Trump tweeted. “Does that sound like free or fair trade. No, it sounds like STUPID TRADE – going on for years!”

The U.S. and China are in a tit-for-tat over billions in proposed tariffs. The Trump Administration is making good on their promise to crackdown on China over unfair trade practices and theft of intellectual property rights.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

Latest comment

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    And China wilts under Trump’s tariff “war”…
    this was a no -brainer.
    financial media predictably g… https://t.co/NFcJCQ4TMV

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