House Speaker Nancy Pelosi (D-Calif.) acknowledged in an interview Tuesday, Sept. 17, that President Donald Trump had to do something about China.
During an interview with Jim Cramer of CNBC, Pelosi said that the Chinese regime could not continue to violate the commercial relationship with the United States.
“I think the president had to do something about it,” she said, adding that she was not sure “he went the right way.”
“I think we should have done it multilaterally, with the EU and the rest,” she said.
For his part, President Trump announced Tuesday that he believes his administration could seal a trade deal with China before the 2020 presidential election, according to Reuters.
The president warned Beijing that if the deal comes after the Nov. 3, 2020 election, it would be on terms “far worse” for them than if they reach an agreement right now.
“I think there’ll be a deal maybe soon, maybe before the election, or one day after the election. And if it’s after the election, it’ll be a deal like you’ve never seen, it’ll be the greatest deal ever and China knows that,” President Trump said according to Reuters.
Since President Trump came to the White House, he has tried to establish an equitable trade agreement with the Chinese Communist Party regime after decades of China’s noncompliance with World Trade Organization (WTO) rules.
Technology theft, industrial espionage, heavy subsidies to Chinese state-owned enterprises are some of the practices that the Trump administration claims have placed U.S. producers and manufacturers at a clear competitive disadvantage and led to the loss of thousands of jobs under previous administrations.
Faced with Beijing’s refusal to comply with the most basic WTO rules, Washington began to impose tariffs on Chinese products worth more than $500 billion.
However, later this week two teams of negotiators from both countries will meet in Washington for the first time in two months.
“There’ll be a deal maybe soon, maybe before the [November 2020] election or one day after the election,” the president told reporters, according to The Hill.
“It’ll be the toughest deal anybody’s ever had to make from the standpoint of China, and they know that,” he added.