President Donald Trump on Tuesday praised his economic agenda saying that the U.S. economy would become even stronger after he is done with “fixing” some of the worst international trade agreements made, adding that his attempts to remake world trade is “coming along very well.”
Trump also wrote that some U.S. trading partners have already agreed that the deals needed to be altered, deals that none of his predecessors “ever asked.”
“The economy is doing perhaps better than ever before, and that’s prior to fixing some of the worst and most unfair Trade Deals ever made by any country,” he tweeted. “In any event, they are coming along very well. Most countries agree that they must be changed, but nobody ever asked!”
The President’s remarks come at a time when the U.S. trade disputes with key allies over the Trump administration’s tariffs are escalating.
The administration is planning to put additional tariffs on tens of billions of dollars in Chinese products on Friday while threatening to put duties on as much as $450 billion in goods from China, prompting threats of retaliatory measures from Beijing.
Meanwhile, the European Union, Canada, and Mexico have also begun with imposing tariffs on American goods in response. Additionally, both the E.U. and Canada have filed cases against the U.S. at the World Trade Organization (WTO).
Many U.S. manufacturers have condemned the tariffs. General Motors warned last week that retaliatory duties from other countries could force it to cut jobs in the U.S., while Harley-Davidson has announced plans to shift some of its production overseas in the face of the retaliatory tariffs.
The Guardian wrote that Trump’s administration has also sought for months to renegotiate the North American Free Trade Agreement (NAFTA) with Canada and Mexico, though Trump has stated that he will not sign a new deal until after the November elections.
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