Chinese Foreign Ministry: Trump’s Statements About China Misleading

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Following the United States President statements yesterday, the Chinese claim that is misleading to claim that China needs to reach a deal with the U.S. because of their slowing down the economy, adding that the Chinese economic growth was "not bad".

The Foreign Ministry representative Geng Shuang made those remarks as an answer to President Donald Trump's last tweet about the matter.

"China’s 2nd Quarter growth is the slowest it has been in more than 27 years. The United States Tariffs are having a major effect on companies wanting to leave China for non-tariffed countries," claimed Donald Trump on his Twitter account, "This is why China wants to make a deal with the U.S. and wishes it had not broken the original deal in the first place," he added.

Recent economic figures show how the Chinese economy is slowing down, growing 6.2% in the second quarter and hitting its lowest point in 27 years. This, according to Trump, proves the effectivity of his foreign trade policy, besides the fact that the United States is "receiving Billions of Dollars in Tariffs from China, with possibly much more to come."

Trump and his Chinese counterpart Xi Jinping agreed on a trade truce during their last meeting in Osaka ahead of the G20 summit. Trump was intending to impose tariffs on all remaining Chinese exports if both countries continued to disagree.

The United States Government is asking China to comply with the U.S. demands regarding several key issues in order to balance the trade relationships, among them intellectual property matters, opening their markets and structural economic reform. Last month both countries agreed to resume the trade talks, however, as a matter of principle, China has been reluctant to agree with the United States demands.

Trump's trade war has generated US 20.8 billion in revenue, less than the 28 billion he vowed to pay to the farmers that have been affected by this policy. This heavily contrasts with Trump’s claims.

“These Tariffs are paid for by China devaluing & pumping, not by the U.S. taxpayer!,” added Trump yesterday.

Sara Patterson has a Master’s Degree in political science and enjoys analyzing both current events and the international markets to get a fuller perspective of the currency market. Before turning to financial writing, she taught English writing skills to high-school age students. Sara’s work has been published on various financial and Forex blogs.