Trump denies trade war with China in tweet, says ‘that war was lost many years ago’

“Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue,” Donald Trump tweeted.

business Updated: Apr 04, 2018 17:24 IST

US President Donald Trump holds his signed memorandum on intellectual property tariffs on high-tech goods from China, at the White House in Washington on March 22, 2018.(Reuters File Photo)

US President Donald Trump denied on Wednesday that the United States was in a trade war with China, hours after Beijing slapped tariffs on a list of US imports in retaliation for similar duties levied by the White House one day earlier.

We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S. Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue!
— Donald J. Trump (@realDonaldTrump) April 4, 2018

“We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S.,” Trump wrote in a post on Twitter.

“Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue”, he added.