U.S. President Donald Trump described ongoing trade negotiations with China as progressing well, referencing a 2016 image of U.S. and Chinese currency during a White House meeting. The remarks came as the Commerce Department reported a record U.S. trade deficit with China in 2018.
Trump stated during the Oval Office meeting that discussions with Beijing were moving "very nicely," adding that the outcome would either result in a "good deal" or no agreement. This followed his decision to delay a tariff increase on $200 billion in Chinese goods, which had been scheduled to rise to 25% from 10%.
The 2016 photo, featuring a U.S. $100 bill and a Chinese 100 yuan note, accompanied a Reuters report detailing the trade war tensions. The U.S. trade deficit with China reached $417 billion in 2018, according to official data, despite Trump’s "America First" policies aimed at reducing the gap.
Senior officials noted that negotiations, conducted primarily via video conference, remained focused on structural issues including intellectual property protections and market access. A Commerce Department official described the process as "a lot of work in getting words down" for a potential agreement.
