AP FACT CHECK: Trump sugar-coats a trade war with China
WASHINGTON (AP) — President Donald Trump let loose with a morning round of tweets that sugar-coat the consequences of his trade war with China.
Trump minimized the worth of China's purchases of U.S. goods and services, which support nearly 1 million jobs in the U.S., misstated the trade deficit and ignored the inevitable rise in many costs to consumers when imports are heavily taxed.
This, as his tariffs kicked in Friday on $200 billion worth of Chinese goods, with another round of tariffs in the offing, and as U.S. and Chinese officials negotiated in Washington. With trade relations between the economic giants seemingly rupturing and the stock market sinking, Trump called the talks "congenial."
A look at some of his statements:
TRUMP: "Your all time favorite President got tired of waiting for China to help out and start buying from our FARMERS, the greatest anywhere in the World!"
THE FACTS: The notion that China doesn't buy from U.S. farmers is false. China is the fourth largest export market for U.S. agriculture. It bought $9.3 billion in U.S. agricultural products last year.
As for calling himself "your" favorite president, he is addressing only his supporters, not the country. Polls find Trump's approval rating to be high among Republicans but it generally ranges between about 35% and 45% among Americans overall.
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TRUMP: "We have lost 500 Billion Dollars a year, for many years, on Crazy Trade with China. NO MORE!"
THE FACTS: That's wrong. When sizing up the trade deficit, Trump always ignores trade in services — where the U.S. runs a surplus with China — and speaks only of goods. Even in that context, he misstated the imbalance.
The U.S. trade deficit with China last year was $378.6 billion, not $500 billion.
On goods alone, the deficit was $419.2...