With dow futures down roughly 300 points due to US-China uncertainty, President Donald Trump said Sunday he could declare the escalating U.S.-China trade war as a national emergency if he wanted to.
“In many ways this is an emergency,” Trump said at the G-7 leaders meeting of the ongoing trade battle between the world’s top two economies.
“I could declare a national emergency, I think when they steal and take out and intellectual property theft anywhere from $300 billion to $500 billion a year and when we have a total lost of almost a trillion dollars a year for many years,” Trump said, adding that he had no plan right now to call for a national emergency.
“Actually we are getting along very well with China right now, we are talking. I think they want to make a deal much more than I do. I’m getting a lot of money in tariffs its coming in by the billions. We’ve never gotten 10 cents from China, so we will see what happens.”