White House: China Needs To Cut Trade Surplus By $100B

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The Trump administration is pushing China to reduce its trade deficit with the U.S. by $100 billion, a White House spokesperson told Reuters.

President Trump tweeted last week that his administration had asked China to develop a plan to reduce the its trade surplus with the U.S. by $1 billion. The spokesperson told Reuters, however, that Trump meant “$100 billion.”

“China has been asked to develop a plan for the year of a One Billion Dollar reduction in their massive Trade Deficit with the United States,” Trump tweeted. “Our relationship with China has been a very good one, and we look forward to seeing what ideas they come back with. We must act soon!”

The U.S. trade deficit with China reached $375 billion in 2017, a record high.

 

Read more at The Hill.

{Matzav.com}

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