DANANG, Vietnam
Promising to put “America first” in his trade practices, President Donald Trump used a speech in Vietnam today to denounce multilateral agreements embraced by the region and deliver what appeared to be a rebuke to China, railing against trade practices he says have put Americans out of work.
“From this day forward we will compete on a fair and equal basis,” Trump told a gathering of CEOs on the sidelines of the annual Asia-Pacific Economic Cooperation summit in Vietnam. “We are not going to let the United States be taken advantage of anymore. I am always going to put America first.”
In his speech, Trump told executives gathered in the coastal city of Danang that he was happy to enter into bilateral trading agreements with any of the nations in the Indo-Pacific region — but only if they are reciprocal and fair.
“What we will no longer do is enter into large agreements that tie our hands, surrender our sovereignty, and make meaningful enforcement practically impossible,” Trump said.
As one of his first acts as president, Trump rejected the far-reaching Pacific Rim trade pact known as the Trans-Pacific Partnership, disappointing many nations in the region, including the summit’s host, Vietnam.
Leaders of the 11 remaining TPP members, representing roughly 13.5 percent of the global economy, were scheduled to meet on the sidelines of the APEC summit to seek an agreement in principle that would not require U.S. involvement.
But the prospects of that deal appeared in doubt today, as a meeting of the leaders of 11 countries still involved in the pact was delayed. There was no word on whether they had given up reaching agreement in Danang or were still working toward an agreement on how to move forward without U.S. involvement.
Meanwhile, a 16-member region-wide pact called the Regional Comprehensive Economic Partnership is also under negotiation. It encompasses China and India but also does not include the U.S.
Trump also took aim at what he described as abusive trade practices he said had “hurt many people in our country.” He described “jobs, factories and industries” being “stripped out of the United States and out of many countries” as a result.
Without singling out China by name, Trump argued the U.S. had adhered to World Trade Organization principles, only to be taken advantage of by counties that had ignored the rules and engaged in harmful practices such as product dumping, currency manipulation and government subsidizing of goods.
“We can no longer tolerate these chronic trade abuses and we will not tolerate them,” he said.
In the speech, Trump said he had spoken “openly and directly” with Chinese President Xi Jinping during his visit “about China’s unfair trade practices and the enormous trade deficits they have produced with the United States.”
Trump said China’s trade surplus, which stood at $223 billion for the first 10 months of the year, was unacceptable, and repeated his language from Thursday when he said he did “not blame China” or any other country “for taking advantage of the United States on trade.”
But Trump went on to say that the U.S. would “no longer turn a blind eye to violations, cheating or economic aggression.”
“We will no longer tolerate the audacious theft of intellectual property. We will confront the destructive practices of forcing businesses to surrender their technology to the state and forcing them into joint ventures in exchange for market access. We will address the massive subsidizing of industries through colossal state-owned enterprises that put private competitors out of business, all the time,” he said.
All are allegations the U.S. has lodged against China.
It was a striking change of tone from the day before, in China, where Trump had taken a friendlier toward China as he sought to establish a more balanced trade relationship.
Xi followed Trump to the microphone but in Danang did not directly respond to Trump’s claims of trade unfairness toward the U.S.
Trump also continued to talk tough against North Korea and its development of nuclear and ballistic missiles weapons, as he has throughout the trip.
“The future of this region and its beautiful people must not be held hostage to a dictator’s twisted fantasies of violent conquest and nuclear blackmail,” he said.
Comments are not available on this story. Read more about why we allow commenting on some stories and not on others.
We believe it's important to offer commenting on certain stories as a benefit to our readers. At its best, our comments sections can be a productive platform for readers to engage with our journalism, offer thoughts on coverage and issues, and drive conversation in a respectful, solutions-based way. It's a form of open discourse that can be useful to our community, public officials, journalists and others.
We do not enable comments on everything — exceptions include most crime stories, and coverage involving personal tragedy or sensitive issues that invite personal attacks instead of thoughtful discussion.
You can read more here about our commenting policy and terms of use. More information is also found on our FAQs.
Show less