Trump Wants China to Cut Trade Deficit by $100 Billion

The White House has asked China to come up with a plan that would cut $100 billion off the trade deficit it currently has with the U.S. An administration official says that would be a reduction of more than 25% from last year’s trade gap with China. Bloomberg said the U.S. trade shortfall in goods traded with China surged another 8% during the first year of the Trump presidency. Commerce Department data released last month showed the deficit at a record $375 billion.

A tweet from President Trump on Wednesday appeared to say China had been asked to reduce the trade deficit by $1 billion instead of the $100 billion reduction which was first reported by the Wall Street Journal. Trump has repeatedly expressed dismay over the rising trade deficit with China, reinforcing that in a recent conversation with the President of China. A White House official was asked about the difference between the Wall Street Journal report and what the president tweeted recently. The official confirmed that the Trump tweet was a “typo,” and he meant $100 billion.

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