Trump wants the Chinese plan to cut the trade deficit between the two nations this year by $1 billion
U. S. President Donald Trump tweeted Wednesday his administration has asked China to come up with a plan to lower the trade deficit with the U. S. by $1 billion.
Trump followed with another tweet vowing the U. S. would fight against intellectual property theft, although he did not directly accuse China of the crime.
According to the Commerce Department, U. S.-China trade deficits rose to $375.2 billion in 2017, up from $347 billion in 2016.
In an effort to avoid a possible trade war between the world’s two largest economics, Chinese President Xi Jinping recently sent his top economic advisor Liu He to the White House, where he met with Trump administration officials to discuss trade and other issues.
During his visit, Liu met with U. S. Treasury Secretary Steven Mnuchin, U. S. Trade Representative Robert Lighthizer, and Trump’s economic advisor Gary Cohn,who resigned Tuesday after Trump announced his plan to impose tariffs on foreign steel and aluminum.
