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i ll be seeing president xi at the g 20 very shortly, many of you will be there, many of the media. and we look forward to that. but in the meantime, maybe for a long time i appreciate the incredible bipartisan support that my administration has had on trade and trade policy, especially as it pertains to placing very massive tariffs on china, and just so you understand, these tariffs are paid for largely by china. a lot of people like to say by us, and larry kudlow was quoted, they didn t have the second part of his quote which was a good part of the quote. china subsidizes a lot of businesses. and china came out and in subsidizing business, they pay for a big portion of that tax. but right now a lot of companies are moving out of china because of the tax, they re moving to nontariffed countries.
china during those years and the numbers are absolutely astounding what s been happening over the last ten years in particular. and you go back three years, you wouldn t believe it. this is a massive transfer of wealth from the united states to china. financing china s infrastructure, commerce, technology, military, and you heard me say many times before, we helped rebuild china. you also heard me say i don t blame the chinese, i blame people that are standing here before me, and their representatives to allow it to happen, to allow china to get along and be able to do that, and they did it like nobody else has done it before. and you know, the united states has been taken advantage of for many years by many countries, but nobody has done it like china. to end these chronic trade abuses, my administration took
china would target our farms. they took an ad in a newspaper from iowa saying lots of bad things about the administration, about that we re negotiating too tough, but they steal intellectual property by the billions. somebody estimated at $300 billion. nobody knows how to estimate it, but somebody does, they say $300 billion a year in theft, intellectual property theft. so we can t let that happen. our economy is booming, our nation is prospering. now is the time to insist on fair and reciprocal trade hopef we ll probably get together with china, if it happens, great, if it doesn t happen, that s fine. that s absolutely fine. and i look forward.
the concern is that long term loss of markets and the aid package isn t relief for that. this is the issue. we re rolling video of you over the last year with a number of farms you have been on, number of agricultural producers, but there are two issues. there s tariffs and what it is doing and the aid package that replaces money that farmers who live on it in terms of money aren t getting. more importantly, all of the soybeans that were being imported to china with tariffs, that s cut back on purchase of american soybeans, and they replaced those as they have with many other crops with products from other countries. in the case of soybeans, largely brazil. god bless america, but we re not the only ones that grow the commodities. when you talk about soybeans, brazil is not only expanding their market share, they re getting better, they re developing. they have infrastructure that s being put in place largely funded by china. they see an alternative down the