REPEAT:MNI: Trump Blames Predecessors For China Trade Gains

Repeats Story Initially Transmitted at 07:37 GMT Nov 9/02:37 EST Nov 9

--Trump Suggests China Has Only Been Doing What Is Right For Its Citizens

--Trump Says He Has 'Great Chemistry' with Xi

--Trump, Xi Oversee Business Deals Worth $253.4 Billion

--Trump Says Xi Can Resolve North Korea Issue 'Easily And Quickly'

By William Bi

     BEIJING (MNI) - U.S. President Donald Trump, on his first official visit to

China, blasted his  predecessors for allowing China's trade surplus with the

United States to spiral out of control. 

     After presiding over a business deal-signing ceremony with Chinese

counterpart Xi Jinping, Trump said in a speech broadcast on state-run television

Thursday that trade between the two countries has not been fair for many years.

     "It is a very one-sided and unfair one, but ..." he said, drawing the last

word out for effect ... "I don't blame China."

     "Who can blame a country for taking advantage of another country for the

benefits to its own citizens," Trump said as the audience laughed. "I give China

great credit," he added.

     "I blame the past [U.S.] administrations for allowing this out-of-control

trade deficit to take place and grow," Trump said. Forced technology transfers

and theft of intellectual property cost U.S. businesses $300 billion a year, he

said as Xi looked on.

     Before Trump's speech, major U.S. business executives sat in rows penning

contracts with Chinese partners on aerospace, agricultural and semiconductor

chip deals. On Wednesday, Commerce Secretary Wilbur Ross presided over a number

of smaller trade and business deals being made, including one from the Chinese

online retail giant JD.com to import $3 billion worth of U.S. goods.

     The combined deals over the two days were touted as totaling $253.4

billion. According to U.S. business executives who participated in the deals,

the contracts signed were of the "intent-to-purchase" variety, and so are

legally non-binding for the Chinese buyers. Speaking to MNI on condition of

anonymity, the executives said that they were contacted at the last minute to

partake in the ceremonies and that they believed their presence was requested to

make Trump look like a dealmaker. 

     One agreement that has attracted much interest calls for three Chinese

state-owned companies to invest $4.3 billion in developing natural gas fields in

Alaska.  

     In his speech, Trump described his apparently close relationship with Xi as

"good chemistry," and he at one point called Xi "a very special man." 

     Trump appeared to further his intention to build closer bonds with China,

repeatedly thanking his host for throwing an elaborate series of welcoming

activities, including a private dinner at the Forbidden Palace that he said

lasted more than two hours, and "beautiful" military parades and cheering

children. 

     "Our administration is committed to improving trade and business

relationships with China," said Trump, who as a presidential candidate promised

to upturn trade with China if elected.

     Xi, by contrast, was staid and predictable when speaking after Trump. "We

hope the U.S. side will encourage" high-tech exports, he said, repeating China's

oft-cited non-solution to the bilateral trade imbalance. 

     In an earlier remark, Xi also said the two leaders agreed to strengthen

exchanges and coordination over North Korea, Afghanistan and other conflict

regions.

     Trump repeated his view of how best to curtail North Korea's nuclear

ambitions: "China can fix this problem easily and quickly," he said, pointing

out China's recent efforts to restrict trade and cut off banking ties with

Pyongyang. "If you work so hard it will happen," Trump said.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: vince.morkri@marketnews.com

--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com

--MNI BEIJING Bureau; +1 202-371-2121; email: john.carter@mni-news.com