President Donald Trump explained his frustration on the trade disparity between the United States and China by highlighting the unfair tariffs on automobile sales.
Trump highlighted the 2.5 percent tariff for cars coming to the United States from China while there was a 25 percent tariff for cars heading to China from the United States.
“Does that sound like free or fair trade?” Trump asked. “No, it sounds like STUPID TRADE – going on for years!”
Trump continues pressing China with tariffs in response to intellectual property theft and a massive multi-billion dollar trade deficit. On Sunday, he appeared optimistic that a deal with China could be made.
“President Xi and I will always be friends, no matter what happens with our dispute on trade,” he wrote. “China will take down it’s trade barriers because it is the right thing to do. Taxes will become reciprocal and a deal will be made on intellectual property. Great future for both countries!”
President Xi and I will always be friends, no matter what happens with our dispute on trade. China will take down its Trade Barriers because it is the right thing to do. Taxes will become Reciprocal & a deal will be made on Intellectual Property. Great future for both countries!
— Donald J. Trump (@realDonaldTrump) April 8, 2018
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%. Does that sound like free or fair trade. No, it sounds like STUPID TRADE – going on for years!
— Donald J. Trump (@realDonaldTrump) April 9, 2018
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