'Era of economic surrender for US is over': Trump demands more fairness from WTO

July 24, 2018 08:48

For decades, the United States has allowed other countries to steal its jobs, close factories and plunder wealth, President Donald Trump said, asserting that the era of economic surrender is over.

"The era of economic surrender for the United States is over, it's over," Trump said at a White House "Made in America" event, as he demanded fairness from World Trade Organization.

Trump alleged that his successors did nothing to protect American jobs.

"They did nothing. They let our factories leave, they let our people lose their jobs, given to other jobs workers in faraway lands. That's not free trade, that's fool's trade, that's stupid trade," he said.

"We don't do that kind of trade any more. The European Union has been very tough on the United States, but they're coming in to see me on Wednesday and we'll see if we can work something out. Otherwise, we'll have to do something with respect to the millions of cars that they send in every year, he said.

"But maybe we can work something out, they're all coming in, the top people. We're talking to China, who had a USD375 billion trade surplus last year with the United States," he said, adding that that is not good.

The US is also talking to Mexico on NAFTA or the North American Free Trade Agreement, he said.

"The new President, terrific person, I spoke to him at length on a call, did a great job, got a tremendous vote and they have a lot of confidence in him in Mexico and that's good. But we're talking to them about doing something very dramatic, very positive for both countries," Trump said.

"We're demanding fairness with the World Trade Organization, it's been a disaster for the United States and we want fairness. We lose court cases, we always had a minority of judges. They gave us fewer judges than other countries had and we'd lose cases, nobody knew why. I said I know why, because you don't have judges from this country, you'd have the minority," Trump said.

The US is starting to do much better lately in winning cases. "But America never waves the white flag, we only wave the red, white and blue flag. The era of economic surrender for the United States is over, it's over," he said. -- PTI

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