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President Donald Trump said Monday that China is taking a significant financial hit as a result of his escalating trade fight.
“China has taken a very hard hit over the last number of months,” Trump said, asserting that they were likely ready to make a deal with the United States.
President - Length - China - Press - Conference
The president commented at length about China during his press conference after the G7 conference of world leaders in France.
Trump noted that China had lost three million jobs as a result of the trade fight and was at risk of losing their entire supply chain to the United States.
Chain - Nobody - Trump
“Their chain is breaking up like nobody has seen before, once that happens it’s very hard to put it back together,” Trump said.
Trump said Chinese President Xi Jinping was a “brilliant” man and a “tough guy,” but was likely ready to make a deal with the United States.
Jobs - Period - Time - Times - System
“He can’t lose three million jobs in a very short period of time and that’s going to be magnified many times over. It’s going to break down the Chinese system of trade, and it’s going to break down the Chinese system of trade and he can’t do that,” Trump said.
The president also noted China manipulated its currency, putting a lot of cash in their economic system, and the prices of consumer goods were not rising. He estimated that China could not sustain the current levels of their market manipulation.
“If you look at the...
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