China, in his words · First term · № 54
Declared in State of the Union that China's "theft of American jobs and wealth has come to an end"
“We are now making it clear to China that, after years of targeting our industries and stealing our intellectual property, the theft of American jobs and wealth has come to an end.”
- Said
- , State of the Union address, U.S. Capitol
- Subject
- theft of jobs and wealth
- Threat
- Economic threat
- Topic
- Trade & tariffs
- Era
- First term
What the record showed
In the same passage Trump said, "But I don't blame China for taking advantage of us," and "I have great respect for President Xi." The Phase One agreement was signed on January 15, 2020; China ultimately bought 58 percent of the U.S. exports it had committed to purchase, according to the Peterson Institute for International Economics. The U.S. goods deficit with China was $342.6 billion in 2019, $308.0 billion in 2020, $352.8 billion in 2021 and $382.3 billion in 2022.