President Donald Trump indicated on Sunday evening that the broad mutual levies he levied just last week are staying in consequence, as the industry continue to fall.
In remarks to investigators aboard Air Force One, Trump pointed to U. S. business deficits with other states in his defence of the taxes, singling out China, which was hit with a 34 % price by the United States last year.
” When you look at the trade deficit we have with certain countries, with China it’s$ 1 trillion”, the president said. ” And we have to fix our trade deficit with China. … Hundreds of billions of dollars a month we lose with China.  , And unless we fix that problem, I’m not going to produce a deal”.
” This is not sustainable”, Trump added.
He also spoke briefly about the markets ‘ reaction to the tariffs, which as recently as Sunday night included Dow futures being down more than 1, 500 points, or 4 %, as well as Japan’s Nikkei declining by more than 8 % in morning trading.
Trump said while he doesn’t want to see strong falls,” sometimes you have to , take treatments to correct something”.
” What’s going to occur to the areas I can’t tell you. But our country is much stronger” , , he added.
While no business offer is in view with China after it responded to Trump’s tax with a 34 % mutual price of its own, the senator did show some Western officials are coming to the negotiating table.
Asked about Elon Musk’s new comments that he would like to see a “zero tax position” between the U. S. and Europe, Trump said” they want to speak” about a potential business deal.
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” They are coming to the table. They want to talk but there’s no talk unless they pay us a lot of money on a yearly basis”, Trump said.
” Europe has made a fortune off us. … Europe has treated us very, very badly”, he added.
