President Donald Trump told White House reporters on Wednesday that China is “losing” in the trade dispute and that South Korea agreed to pay the United States “a lot more money” for military defense against North Korea.
Early Wednesday morning President Trump tweeted the U.S. “has been paid very little” for decades.
South Korea has agreed to pay substantially more money to the United States in order to defend itself from North Korea. Over the past many decades, the U.S. has been paid very little by South Korea, but last year, at the request of President Trump, South Korea paid $990,000,000..
— Donald J. Trump (@realDonaldTrump) August 7, 2019
Now talks have begun, said the President Trump, to further increase the amount.
“South Korea and I have made a deal. They’ve agreed to pay a lot more money toward the United States,” said the president, who stated, “We’ve got 32,000 soldiers on South Korean soil and we’ve been helping them for about 82 years. And we get nothing. We get virtually nothing.”
President Trump stated the relationship with South Korea has been “a very good one.” But the situation “was a very unfair one,” he said, as he was about to leave for Texas and Ohio.
When asked about the trade dispute, the president told reporters that the U.S. is doing better than China. “Our country is doing incredibly well,” replied President Trump.
Whereas “China is not doing well,” said President Trump, who stated that China had admitted yesterday “they’ve been a currency manipulator.”
“Companies are moving out of China by the thousands and our country is doing very well,” President Trump told White House reporters.
The president wanted to see how things pan out. “Somebody had to do this with China,” said President Trump, “because they would take in hundreds of billions of dollars a year out of the United States.”
China is stealing American intellectual property and targeting American farmers, said President Trump, who added he is going to see all these unfair dealings ending.
“China was killing us with unfair trade deals,” said President Trump, and so “somebody had to make a stand.”
President Trump said America has been ripped off for decades. “They’ve been taking us to the cleaners for 25 years,” he said who continued saying what he is doing now—making a firm stand—“should have been done long before me as a president.”
He pointed out that the people who had allowed this to happen “are a disgrace.”
Meanwhile, the stock market reacted nervously, tumbling on Wednesday amid fear of long-drawn U.S.-China trade war.
President Trump said market reaction was to be expected, stating that he had “anticipated even more” impact.
But “we’re sitting on top,” he said. “We have money pouring in.”
The president stated that the U.S. is in a “very good position” because “we have powerful companies” and “strong companies.” He added that China is losing so many because “thousands and thousands of companies are leaving China now because of the tariffs.”
He told reporters, “I will tell you this: China would like to make a deal very badly,” implying that a deal is still possible to end the trade war.