This week President Trump surrounded by Cabinet officials before a White House meeting on Monday said the trade deal between the U.S. and China includes “the most lopsided set of trade rules and regulations that anybody has ever seen.”
Rather than blame Beijing, however, Trump criticized previous U.S. presidents, representatives, and negotiators for the current trade situation.
In response to Trump’s tariffs Beijing has threatened to target $50 billion worth of U.S. products – including soybeans and small aircraft – for possible tariff increases.
Experts have warned that if the tariffs go into effect, U.S. farmers, who rely heavily on exporting their agricultural products to China, will be among the first casualties.
Earlier Monday, Trump decried “stupid trade” with China, contending that U.S. automakers are hurt by hefty tariffs on their exports while the U.S. imposes a much smaller tax on imported Chinese vehicles.
Trump’s “bipolar” broadside against China came a day after he predicted the U.S. and China would resolve their escalating fight over tariffs; but, there was no immediate end to the standoff, with the Chinese Foreign Ministry saying that trade talks with the U.S. are impossible under current conditions.