- US President, Donald Trump gave a speech at the United Nations General Assembly held on 24th September 2019
- In his speech, Trump criticized the Chinese trade patterns and claims it led to any loss of jobs in the United States and other nations
- He refused to accept a “bad deal” made by the leaders of the country
- He states that he didn’t receive a worthwhile deal and has lost hope for any reconciliation in the trade wars
Donald Trump, the president of the United States of America, gave a speech at the United Nations General assembly held on Tuesday, 24th September 2019 in New York City.
In his speech, he spelt out many criticisms he had towards the trading patterns of China. He states that he refused to take a “bad deal” from the Chinese officials. This comes after the inconclusive and unsatisfactory meeting held between Deputy of the United States and China to correct the 15-month trade war going on between the country.
Trump highlights that the deal provided by the Chinese officials was simply not satisfactory. He emphasized that Beijing had failed to keep their promises the moment China joined the World Trade organisation in 2001 and their methods have led to the loss of millions of jobs worldwide.
Trump states that besides all this, he had held out some hope of reconciliation but that is gone too since the deals provided by the counterpart were just not beneficial.
Why is there a trade war between the United States and China?
For the past 15 months, there have been multiple resurfacing incidents of unethical trade by the Chinese towards the USA. There have been incidents of intellectual property stealing- one such famous incident was the war between the US Memory chip maker Micron Technology and China. The technology provided by Micron Technology was stolen by a Chinese company and the Company threw out accusations at the latter. However, China had already obtained a patent, and this US-based company was banned from selling goods in China.
Trump also mentioned, briefly, on his trade deals with Japan and said that they were on the path towards a great one to be made soon.