President Trump said on Tuesday, Aug. 20, that he had to take on China during a meeting in the Oval Office with the president of Romania.
Asked if his trade war with China could tip the country into recession, Trump brushed off the idea as “irrelevant” and said it was imperative to “take China on.”
The president blamed China for ripping off the United States for 25 years, and it is about time to take on China even if it could be bad for the country in short-term time.
“China has been ripping this country off for 25 years—for longer than that. And it’s about time, whether it’s good for our country or bad for our country short term. Long term, it’s imperative that somebody does this because our country cannot continue to pay China $500 billion a year because stupid people are running it,” President Trump said.
Accusing China of taking advantage of the United States for many years, Trump seems to have no choice but to take on China, even if that move could cost him some economic disadvantage.
“The fact is, somebody had to take China on. My life would be a lot easier if I didn’t take China on. But I like doing it because I have to do it. And we’re getting great results,” president Trump said.
“I could be sitting here right now with a stock market that would be up 10,000 points higher if I didn’t want to do it. But I think we have no choice but to do it,” the president added.
The president said that this issue should have been done by previous presidents, and now he has to do it, “Somebody had to do something with China. Obama should have done it. Bush should have done it. Clinton should have done it. They all should have done it. Nobody did it; I’m doing it.”
President Trump also said Democrats agree with him on China “even Senator Schumer said, “Wow, Trump is doing a great job with China.” I couldn’t believe that. But Schumer thinks I’m doing the right thing. And he’s doing the right thing by saying it because he knows that China was a big economic threat,” President Trump said.
Trump rattled the stock and bond markets this month when he announced plans to put a 10% tax on $300 billion worth of Chinese imports. But later he delayed the tariffs until mid December, though 25% tariffs are already in place on $250 million other Chinese goods, according to AP.