Trump denies trade war with China in tweet, says ‘that war was lost many years ago’ | business news | Hindustan Times
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Trump denies trade war with China in tweet, says ‘that war was lost many years ago’

“Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue,” Donald Trump tweeted.

business Updated: Apr 04, 2018 17:24 IST
US President Donald Trump holds his signed memorandum on intellectual property tariffs on high-tech goods from China, at the White House in Washington on March 22, 2018.
US President Donald Trump holds his signed memorandum on intellectual property tariffs on high-tech goods from China, at the White House in Washington on March 22, 2018.(Reuters File Photo)

US President Donald Trump denied on Wednesday that the United States was in a trade war with China, hours after Beijing slapped tariffs on a list of US imports in retaliation for similar duties levied by the White House one day earlier.

“We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S.,” Trump wrote in a post on Twitter.

“Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue”, he added.