US Trade Deficit With China Declined by 40% Under Trump Presidency — Trade Representative
In this Nov. 9, 2017, file photo, an American flag is flown next to the Chinese national emblem during a welcome ceremony for visiting U.S. President Donald Trump outside the Great Hall of the People in Beijing. 
WASHINGTON (Sputnik) — The trade deficit the United States had with China has declined by 40% during the second term of US President Donald Trump, Trade Representative Jamieson Greer said on Friday. «It was $300 billion coming into president Trump’s term. We are now tracking to have only a $140 billion deficit with China this year. The trade deficit in goods with China is down by 40%. It is very significant,» Greer told CNBC when asked about the growing deficit with China. On Thursday, US Secretary of the Treasury Scott Bessent said that Washington and Beijing agreed to extend the Busan trade deal until January 10. The agreement was reached following a meeting between Trump and Chinese President Xi Jinping at Gimhae Air Base in the South Korean city of Busan last October. Among other measures, the United States lowered tariffs on Chinese goods from 57% to 47%, reducing fentanyl-related tariffs from 20% to 10%, while China authorized purchases of US agricultural products and agreed to continue unrestricted exports of rare earth metals.
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