“We have shown China that after decades of them stealing intellectual property, our thorough research, our industry and jobs, China has understood that it will no longer work,” Trump said and added that, “but I don't blame them for taking advantage of us. I blame our weak leaders, who didn't do anything about it.”
President Trump announced reversing decades of "calamitous trade policies" is a "top priority" in order to take advantage of U.S. economy's good momentum, which he described as a "miracle."
"More people are working now than at any time in the history of our country. 157 million people at work," he said.
Despite the tariffs on China President Trump is touting at the #SOTU, the US goods trade deficit with the country is 10 percent higher than it was in 2017, projected to reach $413 billion in 2018. #PIIEChartspic.twitter.com/gUJWcgPt8j
President Trump's administration is working on a new trade agreement with China which will pay attention to structural changes in order to end unfair trade practices, reduce trade deficit and protect jobs.
In this context, President Trump requested the Congress pass a bill which allows his administration to reciprocate unfair trade practices.
"I am also asking you to pass the United States Reciprocal Trade Act, so that if another country places an unfair tariff on an U.S. product, we can charge them the exact same tariff on the exact same product that they sell to us."
Meanwhile, Trump presumed to be receiving "billions of dollars a month" from China, thanks to imposed tariffs on $250 billion of Chinese goods.