Patrik Stalloarz | AFP | Getty Images
China’s President Xi Jinping (L) and US President Donald Trump attend a working session on the first day of the G20 summit in Hamburg, northern Germany, on July 7, 2017.
President Donald Trump said Wednesday that he has asked China to develop a plan to reduce the current trade deficit between the two countries by $1 billion.
“Our relationship with China has been a very good one,” Trump tweeted Wednesday. “We look forward to seeing what ideas they come back with. We must act soon!”
The trade deficit with China surged 16.7 percent to $36 billion in January, its highest level since September 2015, suggesting that Trump’s “America First” policies have not yet had a material impact on the deficit. Meanwhile, the United States’ total trade deficit increased to a more than nine-year high during the first month of 2018.