Trump claims China 'doing poorly' without American buyers on day US economy shrinks 0.3%
US president suggests Chinese ships turning back on Pacific Ocean due to 145% tariffs
Increased Activity at US Ports Before Tariffs on China
ISTANBUL
President Donald Trump said Wednesday that the Chinese economy is "doing poorly" because America is not buying their products -- the day the US announced its economy contracted 0.3% in the first quarter.
"I know that China is doing poorly right now. I just saw some reports coming out, and I don't want that to happen to China," Trump said in a Cabinet meeting.
The president suggested that Chinese factories are closing in China because the US is refusing their products in the absence of fair trade practices.
Trump claimed Chinese cargo ships are being forced to turn around in the Pacific Ocean. "They're sending boats, the biggest boats in the world ... and they're turning around in the Pacific Ocean, they're doing a big U-turn and going back because they don't want the goods, because 145% tariff," he said.
Despite the tough rhetoric, Trump expressed hope for improved relations with Beijing.
"At a certain point, I hope we're going to make a deal with China,” he said.
Trump said he likes Chinese President Xi Jinping and was "saddened to hear" China is in this situation. “I want China to do well. I want every country to do well, but they have to treat us fairly also,” he said.
The US Bureau of Economic Analysis reported Wednesday that the American economy shrank 0.3% year-on-year in the first quarter.
It attributed the decrease primarily to "an increase in imports, which are a subtraction in the calculation of GDP, and a decrease in government spending."
