China, in his words · First term · № 69
Said China had 'ripped off the United States like no one has ever done before'
“China's pattern of misconduct is well known. For decades, they've ripped off the United States like no one has ever done before. Hundreds of billions of dollars a year were lost dealing with China, especially over the years during the prior administration. China raided our factories, offshored our jobs, gutted our industries, stole our intellectual property, and violated their commitments under the World Trade Organization.”
- Said
- , Remarks on United States actions against China, White House Rose Garden
- Subject
- trade and IP theft
- Threat
- Economic threat
- Topic
- Trade & tariffs
- Era
- First term
What the record showed
The Phase One trade agreement he had signed with China in January 2020 stayed in force. The Peterson Institute for International Economics found that China bought 58 percent of the U.S. exports it had committed to purchase over 2020-21 and none of the additional $200 billion. Census Bureau figures show the U.S. goods deficit with China was $308.0 billion in 2020, $352.8 billion in 2021 and $382.3 billion in 2022.