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Trump says China has become ‘very spoiled’ by US trade wins

(News Desk) – President Donald Trump says China has become “very spoiled” by trade wins over the United States, as a top business delegation headed back home after meeting with Chinese officials to try to avert a damaging trade war.

“Our high level delegation is on the way back from China where they had long meetings with Chinese leaders and business representatives,” Trump wrote in a tweet late on Friday.

“We will be meeting tomorrow to determine the results, but it is hard for China in that they have become very spoiled with US trade wins,” he added.

Trump accuses Beijing of unfair trade practices that have widened the US goods deficit with China.

People familiar with the talks said the Trump administration is demanding a $200 billion cut in the Chinese trade surplus with America by the end of 2020 as well as lower tariffs.

The demands also include that China stop subsidizing key industries.

China has promised to introduce some changes to its trade practices, including lifting foreign ownership restrictions for automakers and allowing foreign investors to take stakes in financial firms.

But the list of demands presented by the US delegation showed the proposed measures fall short of expectations in Washington.

The White House called the discussions “frank” but did not say whether negotiations would continue.

“There is consensus within the administration that immediate attention is needed to bring changes to United States-China trade and investment relationship,” it said in a statement.

The talks between senior Chinese and US officials, including Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer, ended without a deal on Friday to avert a potential trade war.

That possibility has loomed since March, when Trump first announced plans to impose stiff tariffs on the China. Beijing, in turn, announced its own tariffs on American goods.

China’s state-run Xinhua news agency said the talks were “constructive, candid and efficient,” but added that disagreements remained “relatively big.”

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