Trump on China: Somebody had to take a stand
President Trump on the U.S. trade tensions with China, the strength of the U.S. economy the market outlook.
President Trump departed the White House Wednesday to visit Dayton, Ohio, and El Paso, Texas, two cities rocked by tragic mass shootings over the weekend.
On his way to Marine One, he answered questions from reporters and shared his thoughts on China as a currency manipulator, as well as the reaction from U.S. equity markets.
"Our country is doing incredibly well," Trump told reporters Wednesday. "China is not doing well if you look at the trade situation. China just admitted yesterday that they've been a currency manipulator. [It's the] first time they've ever been called out."
China just admitted yesterday that they've been a currency manipulator.
"Companies are moving out of China by the thousands, and our country is doing very well," Trump added. "We're going to see how it all works out. Somebody had to do this with China because they were taking hundreds of billions of dollars a year out of the United States and somebody had to make a stand. So I think our country is doing really well."
When it comes to the stock market, Trump said he anticipated it to react the way it did.
"I would have anticipated it," Trump said. "I would have maybe anticipated even more, but ultimately, it's going to get even higher than it ever would have got because China was like an anchor on us. China was killing us with unfair trade deals."
[The stock market is] going to get even higher than it ever would have got because China was like an anchor on us.
Trump went on to blame the Democrats for their inaction on what he considered unfair trade deals.
"The people that allowed that to happen are a disgrace," Trump said. "China, what they were doing to us, for years and years, taking hundreds of billions of dollars out, stealing intellectual property, targeting our farmers, all of that's ending and they understand that."