China, in his words · Before politics · № 3
Told CPAC that China was manipulating its currency and 'we are re-building China'
“I love open markets, but not when China's manipulating their currency. Not when all of these other factors are taking place. ... And so many of those products unfortunately come from China, and other countries, but we are re-building China. We're rebuilding China.”
- Said
- , Speech at the Conservative Political Action Conference (CPAC), Washington, D.C.
- Subject
- currency manipulation
- Threat
- Economic threat
- Topic
- Trade & tariffs
- Era
- Before politics
What the record showed
In the same speech he said countries including China 'view our leaders as weak and ineffective and have repeatedly taken advantage of them to the tune of hundreds of billions of dollars a year.' As president, Trump signed the Phase One agreement on Jan. 15, 2020, which committed China to buy an additional $200 billion of U.S. goods and services over 2020 and 2021. China bought 58 percent of the total it had committed to purchase, according to the Peterson Institute for International Economics. The U.S. goods trade deficit with China was $295.2 billion in 2011, $346.8 billion in 2016 and $418.2 billion in 2018.