- Trump claims tariffs are fueling record-breaking U.S. investment, with companies like Samsung expanding stateside.
- He says China’s economy is suffering under U.S. tariffs, with cargo ships turning back due to steep import costs.
- Despite tensions, Trump says he’s open to a fair trade deal but insists China must address issues like IP theft.
President Donald Trump said Wednesday that his tariff policies are pulling massive investments into the U.S., while painting a bleak picture for China’s economy amid ongoing trade tensions.
Speaking during a Cabinet meeting, Trump claimed that companies like Samsung are choosing to build in America specifically because of the tariffs. “If we didn’t do the tariffs, they wouldn’t be doing that,” he said, suggesting the pressure from trade policies is shifting global supply chains in the U.S.’ favor.
Trillions in New Investment, Trump Says
Trump went on to tout what he called an “unmatched” wave of private investment since he returned to office — citing over $7 trillion in commitments from major players like Apple, Eli Lilly, and even governments like Saudi Arabia and Japan.
“We’re up to close to $8 trillion now, I think I can say that,” he told reporters. “Chip companies, car companies, high-tech — all of it. Nobody’s ever seen anything like it.”
According to Trump, this surge in spending is being driven by a mix of tariffs and the upcoming Nov. 5 election, which he says is reinforcing confidence in his economic agenda.
China’s Economy, “Hammered” by Tariffs
While praising the U.S. outlook, Trump didn’t hold back on China’s situation. “They’re doing very poorly right now,” he said, citing reports of massive Chinese cargo ships turning back mid-route because of the 145% tariff slapped on imports.
“They’re sending the biggest ships in the world, loaded up — and they’re making U-turns in the Pacific,” Trump said. “They don’t want the goods. They can’t afford the tariff.”
Despite the hardline stance, Trump said he’s open to working with China — eventually. “I like President Xi, I really do… but their factories are closing down all over the place. We’re not taking their products unless they treat us fair,” he said, pointing to ongoing issues like intellectual property theft as part of the broader dispute.
Hopes for a Deal… Eventually
Trump emphasized that while the tariffs are doing what they were meant to, he’s still hopeful a deal can be struck at some point. “I want China to do well, I want every country to do well — but they’ve got to treat us fairly, too.”
So, for now, Trump says the message is clear: play fair or pay up.
