Steve Moore: US in abusive China relationship
China is threatening retaliatory tariffs in response to President Trump’s announcement to raise tariffs by 25 percent on $200 billion worth of Chinese goods coming into the United States.
Economist Stephen Moore told FOX Business the U.S. has been consistently mistreated by the Beijing government with its unfair and abusive trade practices.
“We’re in an abusive relationship here,” he said on Thursday. “You can’t have free trade with a country that is cheating, stealing, lying, [and] stealing $300 billion of your technology.”
U.S. and China have been locked in a trade war for over a year that has resulted in tit-for-tat tariffs, costing both countries billions of dollars and massive fluctuations in the U.S. stock market.
Stocks have been trading off the lows as Trump says a China trade deal could get done by this week.
Moore is betting that a trade deal between the world’s two largest economies will be finalized within three to six months.
“At some point cooler minds are going to prevail and you are going to get a deal and when that happens Charles [Payne], I think you are going to see not a 1,000 point decline in the stock market, but a 2,000 points,” Moore said on “Making Money.”
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Trade talks between the U.S. delegation and China’s Vice Premier Liu He are expected to begin Thursday and may go into Friday, the date the Trump administration said it will impose a new tariffs against China.