[FONT="]At home, my administration is supporting American workers and American businesses by eliminating burdensome regulations and lifting restrictions on American energy and all other businesses. Restrictions are being seriously lifted. [/FONT]
My administration is committed to improving our trade and business relationships with China. And this relationship is something which we are working very hard to make a fair and reciprocal one. Trade between China and the United States has not been, over the last many, many years, a very fair one for us.
As we all know, America has a huge annual trade deficit with China -- a number beyond anything what anybody would understand. This number is, shockingly, hundreds of billions of dollars each year. Estimates are as high as $500 billion a year. We must immediately address the unfair trade practices that drive this deficit, along with barriers to market success. We really have to look at access, forced technology transfer, and the theft of intellectual property, which just, by and of itself, is costing the United States and its companies at least $300 billion a year.
Both the United States and China will have a more prosperous future if we can achieve a level economic playing field. Right now, unfortunately, it is a very one-sided and unfair one. But -- but I don't blame China. (Applause.) After all, who can blame a country for being able to take advantage of another country for the benefit of its citizens? I give China great credit. (Applause.)
But, in actuality, I do blame past administrations for allowing this out-of-control trade deficit to take place and to grow. We have to fix this because it just doesn't work for our great American companies, and it doesn't work for our great American workers. It is just not sustainable. I look forward to working toward that goal and to pursuing fair and lasting engagement.
But, in actuality, I do blame past administrations for allowing this out-of-control trade deficit to take place and to grow. We have to fix this because it just doesn't work for our great American companies, and it doesn't work for our great American workers. It is just not sustainable. I look forward to working toward that goal and to pursuing fair and lasting engagement.
