President Donald Trump on July 15 pointed to China’s flagging economic growth amid resumed trade talks between the two countries, saying that Beijing “wants to makes a deal” due to the negative effects of U.S. tariffs.
Data released on July 15 showed that GDP growth in the world’s second-largest economy had slowed to 6.2 percent in the second quarter, the weakest pace in at least 27 years, as the country feels the mounting effects of the ongoing trade war with the United States.
Trump referenced the data in a Monday tweet, adding that U.S. tariffs were having a “major effect” on companies wanting to move production from China to other countries not subject to tariffs.
“This is why China wants to make a deal with the U.S., and wishes it had not broken the original deal in the first place,” Trump wrote in a tweet.
The United States currently has imposed tariffs of 25 percent on $250 billion of Chinese goods.
….with the U.S., and wishes it had not broken the original deal in the first place. In the meantime, we are receiving Billions of Dollars in Tariffs from China, with possibly much more to come. These Tariffs are paid for by China devaluing & pumping, not by the U.S. taxpayer!
— Donald J. Trump (@realDonaldTrump) July 15, 2019
Trump added in a tweet that the United States was receiving billions of dollars in tariffs from China, with “possibly more to come.”
The Trump administration is seeking to reach a deal with the Chinese regime that requires Beijing to address longstanding unfair trade practices, including theft of U.S. intellectual property, forced technology transfer, and currency manipulation.
Trump and Chinese leader Xi Jinping, at a meeting at the G-20 Summit last month, agreed to restart negotiations after talks broke down in early May. U.S. officials had accused Beijing of backtracking on a range of agreed-upon provisions.
Trade talks resumed earlier this month. U.S. and Chinese negotiators spoke by phone last week, and in-person talks are expected soon in Beijing, U.S. officials have said.