President Donald Trump spoke to White House reporters on Friday before leaving for his annual August vacation at his lush New Jersey golf club.
Despite being tested on different fronts, the president was optimistic, indicating he is on top of matters at home and abroad. However, the trade dispute with China topped President Trump’s list of concerns.
He said, “We are doing very well with China. We’re talking to China.”
“We’re not ready to make a deal but we’ll see what happens,” stated the president, as he reminded reporters that the Chinese communist regime has “hurt” America for “25-30 years,” and “nobody’s done anything about it!”
“We have no choice but to do what we’re doing,” added President Trump, as he told White House reporters that the Chinese regime engaged in “monetary manipulation.”
President Trump said the U.S. has “an open dialogue” with China. “We’ll see whether or not we keep our meeting in September. If we do, that’s fine if we don’t that’s fine.”
“It’s time that somebody does what we’re doing” to China, said the president who stated, “The American taxpayer is not paying for it.”
President Trump briefly explained what China is doing: “By depressing their currency and by pouring tremendous amounts of money into their system, they’re paying for it.”
“Prices have not gone up,” said the president. “So when the amount, in fact in some cases have gone down because the devaluation, plus the money supply, the amount of money that they pour in, which is a form of manipulation, has more than compensated for an increase in price,” explained President Trump.
“The tariffs have been amazing,” said President Trump in hindsight. “We’re taking in billions and billions of dollars,” he continued stating that China is crippled by the trade dispute.
“China has had their worst year in 35 years now,” said President Trump. “They’re having the worst year that they’ve had in many, many years in decades.”
The president said on the one hand, “I want them to do well.” On the other hand, he stated that the Trump administration is “just bringing the system back into order.”
“We have all the cards. We’re doing well; our country is doing fantastically well,” reiterated President Trump.
However, the biggest problem for the now is that many other countries are not doing well, whereas U.S. “companies are poised,” with “a lot of cash,” stated President Trump.
“Our system is beautiful,” said the president.
When asked if he would cancel the September trade talks with China, he replied, “Maybe, I’ll see what happens. Whether or not we’re talking about China, whether or not they’re canceled, we’ll see.”
“China wants to settle this deal,” said President Trump because “They’ve had the worst year that they’ve had in many decades and it’s getting only worse.”
The U.S. president continued saying, “Thousands of companies are leaving China.” So the Chinese would like to make a deal but “I’m not ready to make a deal.”