President Donald J. Trump on Tuesday commented on the soaring U.S. economy and at the same time spoke in a forceful and direct manner about the current Shanghai trade talks. “We are either going to make a great deal or not one at all,” he said.
Speaking from the White House lawn, President Trump told reporters that the U.S. economy is “doing fantastically well.”
“We have people over in China right now. We’re negotiating with China,” said President Trump. “Our country has gone way up.”
“We’re the number one economy in the world,” President Trump told White House reporters. “It’s picked up tremendously in the last three years since I’ve been here.”
“A lot of great things are happening” and “the economy is through the roof,” said the president.
He downplayed the prospect of a quick breakthrough at the Shanghai trade talks. “We’ll see what happens,” said President Trump, “We’re either going to make a great deal or we’re not going to make a deal at all.”
The president then said, “A lot of great things are happening and including with China.”
He said he hopes to get “good decisions from certain branches of government.” The president is prodding the Federal Reserve to make a large cut to interest rates.
“I would like to see a large cut and I’d like to see immediately the quantitative tightening stop,” said President Trump.
As Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer were in Shanghai meeting with their Chinese counterparts, President Trump pondered whether the Chinese regime is procrastinating on an agreement until after next year’s presidential election.
“They would just love if I got defeated, so they could deal with somebody like Elizabeth Warren or sleepy Joe Biden or any of these people, because then they’d be allowed and able to continue to rip off our country, like they’ve been doing for the last 30 years,” he said.
“China has been taking out hundreds of billions of dollars a year with our country,” said President Trump who continued that now what he has done with the tariffs, is making it “the worst year they’ve had in 27 years.”
“Companies are leaving China by the thousands and their prices are coming down,” said President Trump. “China is dying to make a deal with me.”
“China is willing to give up a lot, but that doesn’t mean I’m willing to accept it.”
The Sino-U.S. trade tensions have been the biggest negative indicator for the domestic and global markets during the past couple of years. Investors are worried that a full-blown trade war could derail the global recovery and lead to a new world of protectionism.
European stock markets dipped sharply on Tuesday after President Trump’s words that America would either “make a great deal or not one at all.”