President Trump on Friday railed against China, saying Beijing violated a trade agreement with the U.S. amid ongoing tensions between the two countries.
“Two weeks ago China was in grave economic danger! The very high Tariffs I set made it virtually impossible for China to TRADE into the United States marketplace which is, by far, number one in the World. We went, in effect, COLD TURKEY with China, and it was devastating for them. Many factories closed and there was, to put it mildly, ‘civil unrest.’ I saw what was happening and didn’t like it, for them, not for us. I made a FAST DEAL with China in order to save them from what I thought was going to be a very bad situation, and I didn’t want to see that happen,” Trump said on Truth Social.
“Because of this deal, everything quickly stabilized and China got back to business as usual. Everybody was happy! That is the good news!!!" he added.
"The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!”
Under the agreement the Trump administration hashed out with China earlier this month, the U.S. lowered its tariff rate on Chinese imports from 145 percent to 30 percent and Beijing lowered its rate on U.S. goods from 125 percent to 10 percent.
Treasury Secretary Scott Bessent said Thursday that talks with China over trade are somewhat in limbo, telling Fox News’s Bret Baier they are “a bit stalled.”
He also said there may be a call between Trump and Chinese President Xi Jinping at some point.
Following the trade deal two weeks ago, Trump said he thought China would have suffered more if the escalating trade war had been prolonged.
On Wednesday, a federal court said that an emergency law did not give Trump unilateral authority to impose tariffs on trade partners in a ruling that also blocked the president’s tariffs on Canada, Mexico and China related to curbing the flow of fentanyl into the U.S. An appeal court lifted the ruling blocking those tariffs, but many of them remain halted following a separate ruling on Thursday that was issued by a federal judge in Washington, D.C.
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