President Donald Trump boasted Sunday that the U.S. is “winning” the trade war with China — and revived his lie that China pays the tariffs he has imposed on imported Chinese products.
“We’re winning and we’re winning big because we have created an economy that is second to none,” he said at a news conference in South Korea. The previous day he said trade talks with China were back on as he agreed to indefinitely suspend his threatened new round of 25% tariffs on $300 billion in Chinese imports. He also said American companies could continue to do some business with China’s Huawei Technologies.
Trump also insisted Sunday: “We’re [currently] collecting 25% on $250 billion, and China is paying for it, as you know, because, as you notice, our inflation hasn’t gone up.”
In fact, tariffs imposed on Chinese products are paid by American companies importing the goods and are typically passed on to consumers. Though Chinese businesses may lower their sales prices to remain competitive in America, they are paying nothing to the U.S. treasury. Economists have estimated that the trade war is costing U.S. companies and consumers more than $3 billion a month.
Yet Trump told the Fox Business Network: “Don’t let anyone tell you that we’re paying. We’re not paying. China’s paying for it.”
The Associated Press reported flatly in a fact-check on that comment: “Americans are paying for it.”
….again with China as our relationship with them continues to be a very good one. The quality of the transaction is far more important to me than speed. I am in no hurry, but things look very good! There will be no reduction in the Tariffs currently being charged to China.