Tariffs Reveal True Face of Chinese Communist Party, Trump: CCP ( Chinese Communist Party ) Is Number One Robber
US President Donald Trump bluntly called the Chinese Communist Party (CCP) the number one trade robber in a cabinet meeting on Wednesday (April 30). As tensions between the US and China escalate, container volumes from China to the United States have plummeted. Several major shipping companies in the world have begun to shrink ships and cancel sailings. China's export volume is said to have dropped by around 50%.
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"We used to be taken advantage of by almost every country in the world, but I think China (CCP) is the biggest. They are the biggest thief, the biggest cheater," Trump said.
On Wednesday, Trump held his first cabinet meeting after 100 days in office. He expressed his desire to reach an agreement with China, but on the condition that it must be fair.
Trump: “I wish China well, I wish all countries well, but the catch is—they have to treat us fairly.”
Li Hengqing, an economist at the Washington Institute for Information and Strategy, said: “Trump is trying to create a new global trading system based on rules. Some of the main principles are tariff balance—no one should have an advantage—and trade balance so that there is no big deficit.”
In discussing economic policy, Trump stressed that the tariffs imposed have “seriously hurt” the CCP. The volume of containers from China to the US has dropped sharply.
Trump: “I know China is in a very bad situation right now. They are sending the biggest ships in the world—with loads we have never seen before—and now they are turning around in the middle of the Pacific Ocean. They are turning back because no one wants to take the goods. Tariffs are now 145%.”
According to a Wall Street Journal report, the world’s five largest container shipping companies said that the number of orders from China to the US west coast has dropped by at least a third.
Meanwhile, small-scale shipping companies have also begun canceling shipping routes. According to information from shipping brokers in Singapore and London, about 24 sailings from China to the US west coast have been canceled in May alone.
In addition, according to data from the Chinese Bureau of Statistics released on Wednesday, the index of new export orders in April was 49.2%, down 2.6 points from the previous month. In reality, the actual figure is likely to be worse.
“The US market is irreplaceable for China. If it loses this market, one-third of China’s foreign trade will be lost. In the current situation of 145% tariffs, Chinese products basically cannot enter the US market. Other countries have many tariff advantages in competing, so the CCP must now immediately negotiate to reduce these tariffs. The longer they delay, the greater the impact on them,” Li Hengqing said.
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On the same day, Trump also said that the United States is likely to first reach a tariff deal with Japan, South Korea and India in the next few weeks. (Hui)
SOURCE:
Reporting by reporter Tang Rui of New Tang Dynasty TV
