Trump characterizes the EU as a "small-scale China"
Donald Trump, previously known as President, isn't exactly fond of the European Union. He's now labeling it as "Mini-China" and bringing up trade deficit figures. Interestingly enough, and predictably so, the EU's statistical agency presents different statistics.
During a radio interview, Presidential hopeful Donald Trump criticized the trade deficit with the European Union, likening it to "Mini-China". "They don't buy our cars, they don't buy our farm goods, they take nothing," Trump stated.
"Let me tell you, the EU is a mini-version, albeit not that small, of Mini-China," Trump elaborated. During his presidency, Trump represented the Republican party and reported a whopping 312 billion dollar trade deficit with the European Union. However, Eurostat, the EU's statistical agency, claims the US goods trade deficit with the European Union last year was 157.9 billion euros, equating to 170.54 billion dollars.
Trump, a former president, is back in the race, running against Democratic candidate Kamala Harris on November 5. Polls suggest a tight election. In his first term, Trump initiated a trade dispute with China and imposed tariffs on European Union products. For his 2020 campaign, he promised to levy tariffs of 10-20% on goods from countries that have exploited the US economically for years.
The Commission, presumably the European Commission, released a statement countering Trump's claims about the trade deficit with the EU, citing their own statistical data. In a recent press conference, Commission President Ursula von der Leyen emphasized the EU's commitment to fair trade and balanced economic relations with the United States.
