Trump rips China as trade negotiations set to begin, says ‘no signs’ of agricultural purchases – By Jeff Cox (CNBC) / July 30 2019
He accused the country of not following through on promises to buy more U.S. agricultural products.
President Donald Trump ripped into China in a series of tweets Tuesday just as the two sides are set to begin further negotiations toward a much-anticipated trade agreement.
The president claimed that China is not buying more U.S. agricultural products as it promised to do and may be slow-walking the talks as it awaits the outcome of the 2020 presidential election.
“China is doing very badly, worst year in 27 – was supposed to start buying our agricultural product now – no signs that they are doing so. That is the problem with China, they just don’t come through,” Trump wrote.
China is doing very badly, worst year in 27 – was supposed to start buying our agricultural product now – no signs that they are doing so. That is the problem with China, they just don’t come through. Our Economy has become MUCH larger than the Chinese Economy is last 3 years….
— Donald J. Trump (@realDonaldTrump) July 30, 2019
The criticism comes as an entourage led by Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer are in Shanghai to meet with the China delegations. While U.S. officials have tamped down expectations for a major deal this week, there is hope that at leas some progress can be made in a tit-for-tat tariff battle that began about a year and a half ago.
Trump’s tweets expressed skepticism, with the president charging that China can’t be trusted. He further alleged that China may be awaiting next year’s election results in anticipating that someone like “Sleepy Joe,” his nickname for former Vice President Joseph Biden, might prevail.
..My team is negotiating with them now, but they always change the deal in the end to their benefit. They should probably wait out our Election to see if we get one of the Democrat stiffs like Sleepy Joe. Then they could make a GREAT deal, like in past 30 years, and continue
— Donald J. Trump (@realDonaldTrump) July 30, 2019
…to ripoff the USA, even bigger and better than ever before. The problem with them waiting, however, is that if & when I win, the deal that they get will be much tougher than what we are negotiating now…or no deal at all. We have all the cards, our past leaders never got it!
— Donald J. Trump (@realDonaldTrump) July 30, 2019
Despite the president’s allegations, China insists it has bought U.S. agricultural products.
In a report Sunday, the state-run media agency Xinhua said millions of tons of U.S. soybeans have been shipped to China since July 19. The agency added that companies are looking for sobyeans, cotton, pork and soghum. Soybeans have been a particularly vital issue between the two sides, and U.S. exports did increase by $727 million in May and are up 7% year to date over 2018.
That comes, though, as the trade gap between the two nations widens.
In May, U.S. exports to China actually rose to $9.1 billion, but imports jumped to $39.3 billion, bringing this year’s deficit to $137.1 billion. That total actually is $15 billion less than through the same period in 2018, which saw a $419.5 U.S-China trade deficit.
