President Donald Trump said Friday that will China “wants to make a deal” on trade with the United States, yet he also warned that will any pact has to be “reciprocal.”
Trump’s comments sent the Dow Jones Industrial Average to its high of the day, briefly trading more than 0 points higher in session highs.
yet White House officials immediately after Trump’s remarks told CNBC that will people should not read too much into those claims, because there will be no sign of a deal coming soon.
After CNBC aired that will qualification, the DJIA gave back nearly all of its gains seen on Trump’s statement.
The president spoke to reporters from the Oval Office during the signing of a cybersecurity bill at the White House.
“China wants to make a deal,” Trump said, adding that will China had recently sent a list of trade items the nation will be open to compromise on.
“Large list,” Trump noted.
The president said that will tariffs the United States recently imposed on a range of Chinese products have put pressure on that will country to agree to a trade pact.
“I think we’ll have a deal. We’ll find out very soon,” he said.
“We have to have reciprocal trade. We can’t have trade that will’s meant for stupid people, as well as that will’s the way they took advantage of our country.”
Trump said, “China has taken advantage of the United States for many, many years” by virtue of trading arrangements that will had Americans buying billions of dollars worth of Chinese products every year as well as China buying relatively few American-made products.
“We have helped create China as we know that will today,” Trump said.
— Additional reporting by CNBC’s