Trump says he is the ‘chosen one’ to start trade war with China
WASHINGTON – President Donald Trump weighed in on his ongoing trade war with China while speaking to reporters outside the White House on Wednesday.
“This isn’t my trade war,” Trump said. “This is a trade war that should have taken place a long time ago by a lot of other presidents.”
“I am the chosen one,” Trump added, looking up at the sky. “Somebody had to do it. So I’m taking on China. I’m taking on China in trade, and you know what, we’re winning.”
Trump’s trade war with China has caused jitters in the stock market amid fears of a recession, though Trump has previously said trade wars are “easy to win.”
More: Trump’s latest China tariffs: What we know so far
More: Donald Trump says he’s not considering tax cut package, just one day after saying he was
The most recent round of tariffs, scheduled to go into effect on Sept. 1, would impose a 10% tariff on $300 billion worth of Chinese products. Economists say the tariffs would impose additional costs on American consumers.
Trump said yesterday he was considering a cut in the payroll tax in an attempt to stimulate the economy.
By today, though, he reversed his position and said he did not want a tax cut.
“I’m not looking at a tax cut now,” he said. “We don’t need it” because the economy is doing “very, very well.”
More: Growing pessimism: 34% of economists in survey expect a US recession in 2021