June 26, 2017

President Trump is Dramatically Cutting US Trade Deficit to China

Love him or hate him, President Donald Trump is holding true to his word and dramatically reducing the U.S. trade deficit to China.

In February, the trade deficit to China fell by a record amount and American exports increased for a thrid straight month, according to ABC News.

The deficit fell to $43.6 billion, 9.6 percent below January’s deficit of $48.2 billion, while imports on Chinese goods fell by $8.6 billion.  The overall trade deficit with China narrowed in February to $23 billion, 26.6 percent below the January total.

For decades, President Trump has warned of the growing economic threat China has mounted against the United States.

“I’ve been telling everybody for a long time, China’s taking our jobs, they’re taking our money.  Be careful.  They’ll bring us down.  You have to know what you’re doing.  We have nobody that has a clue,” President Trump said in a social media post in 2015.

WATCH here

In early January, President Trump met with Chinese business mogul Jack Ma where the two agreed to create one million new U.S. jobs over the next five years.

Later this week, Chinese President Xi Jinping will meet with President Trump in Florida to discuss trade relations and possible actions against North Korea.

Source: Townhall

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