"Little Squabble": Here’s Where the White House Stands on Trade Talks With China

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Posted: May 14, 2019 1:30 PM
"Little Squabble": Here’s Where the White House Stands on Trade Talks With China

Before boarding Air Force One for an infrastructure focused trip to Louisiana Tuesday afternoon, President Trump spoke with reporters about ongoing trade talks with China. 

“We’re having a little squabble with China,” he said. “The relationship I have with President Xi is extraordinary."

"But he’s for China and I’m for the USA. It’s very, very simple,” he continued. “I think it’s going to turn out extremely well we’re in a very strong position."

Earlier this week the Trump administration slapped an additional $200 billion in tariffs on Chinese goods. China retaliated with $60 billion in tariffs on U.S. goods. Wall Street responded with a 600+ point drop to start the week.

Ahead of a meeting with Hungarian Prime Minister Viktor Orban Monday, President Trump said a deal with China was "95 percent there," but that the Chinese changed the terms and said the deal was off.

"We take in billions of dollars, it’s a very positive step, I love the position we’re in. There can be some retaliation, but it can’t be very very substantial by comparison. A small portion will go to our farmers, they’ll be very happy, our industries will be very happy," Trump said. "We had a deal, 95 percent was there."

Early Tuesday morning, President Trump further explained the situation on Twitter. 

Over the weekend, White House economic advisor Larry Kudlow talked about the cost of the current "squabble" for Americans.

Meanwhile, President Trump says the dialogue will continue and he will meet with President Xi at the G20. . 

 "We had a deal that was very close and then they broke it,” he said.