President Trump said Monday that China is taking a significant financial hit as a result of his escalating trade fight.
“China has taken a very hard hit over the last number of months,” President Trump said, and they are likely ready to make a deal with the United States.
President Trump noted that China had lost 3-M jobs as a result of the trade fight and was at risk of losing their entire supply chain to the United States.
“Their chain is breaking up like nobody has seen before, once that happens it’s very hard to put it back together,” President Trump said.
President Trump said Chinese President Xi is a “brilliant” man and a “tough guy,” but is now likely ready to make a deal with the United States.
“He cannot lose 3 million jobs in a very short period of time and that’s going to be magnified many times over. It’s going to break down the Chinese system of trade, and it’s going to break down the Chinese system of trade and he can’t do that,” President Trump said.
President Trump concluded that he was not sure about the possible timeline for a deal with China, but predicted that it would happen.
“I’m not sure they have a choice, and I don’t say that as a threat, I don’t think they have a choice,” he said.
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