Trump says US not willing to make deal with China unless trade deficit is solved

President Donald Trump said Sunday that he is not willing to make a deal with China unless the trade deficit of over $1 trillion is resolved first.

While speaking to reporters on Air Force One, Trump said with some countries there is a trade deficit of over a billion dollars, but with China, it is over $1 trillion.

‘We have a $1 trillion trade deficit with China. Hundreds of billions of dollars a year we lose to China, and unless we solve that problem, Iâ€m not going to make a deal,’ he said. ‘Iâ€m willing to make a deal with China, but they have to solve this surplus. We have a tremendous deficit problem with China… I want that solved.’

Trump also said because of the tariffs, the U.S. has $7 trillion of committed investments when it comes to building automotive manufacturing plants, chip companies and other types of businesses, ‘at levels that weâ€ve never seen before.’

But in terms of trade deficits, Trump said he has spoken with a lot of leaders in Europe and Asia, who are ‘dying’ to make a deal, but as long as there are deficits, he is not going to do that.

‘A deficit is a loss,’ he said. ‘Weâ€re going to have surpluses, or weâ€re, at worst, going to be breaking even. But China would be the worst in the group because the deficit is so big, and itâ€s not sustainable.

‘I was elected on this,’ Trump added.