Trump declared that his tariffs are having a devastating impact on China’s economy, claiming that factories are shutting down and cargo ships are "turning back." Speaking with visible satisfaction, Trump said China is "getting absolutely hammered" and doing "very poorly," while also adding, “I don’t want that to happen to China.” His remarks come amid growing signs of trade disruption and economic slowdown in the region.
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NewsTranscript
00:00A lot, President Xi. I don't want it to happen. I was I was actually saddened to hear it, but they are getting absolutely hammered in China. And, you know, they're sending boats, the biggest boats in the world carrying. So it's very exciting. And we have a lot of things going. We took over on January 20th. These are quarterly reports. We took over on January 20th. The tariffs haven't kicked in yet. I know that and I don't want this to happen.
00:28But I know that China is doing very poorly right now. I just saw some reports coming out and I don't want that to happen to China. I like the president a lot. President Xi. I don't want it to happen. I was I was actually saddened to hear it. But they are getting absolutely hammered in China. And, you know, they're sending boats, the biggest boats in the world carrying cargo like nobody's ever seen before.
00:53These are the biggest boats in the world, biggest cargo ships in the world. And they're coming 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 percent tariff.
01:06But at a certain point, I hope we're going to make a deal with China. We're talking to China. But their factories are closing all over China because we're not taking their product. We don't want their product unless they're going to be fair with us.
01:18And that includes intellectual property and other things. There are a lot of things far beyond just buy sell. So we'll see what happens. But, you know, I was not because somebody said, well, were you happy?
01:28I said, I am not happy. I want China to do well. I want every country to do well. But they have to treat us fairly also. So with that, I think we're going to maybe go around and we have some letters where the secretaries and people around the table are making statements about how they're doing and what's happening. And I could start with Pete.
01:58Pete.