adding, we re negotiating very powerfully and strongly with other nations, but during this period of time i should be given some head by the fed. it is pretty rare for a president to criticize the u.s. federal reserve, but it is the second time trump has done so just this summer. the president says he will keep up the campaign if the fed continues to raise rates. both u.s. stocks and the dollar took a hit after the president s comments. the u.s. and china will resume trade talks tomorrow, but right now there is no telling when the dispute will be settled. the wall street journal reports that the trump administration is moving closer this week to levying new tariffs on china. the president also tells reuters there s, quote, no time frame for resolving the dispute. he also accused china in the new interview of manipulating its currency to make up for the tariffs imposed by washington. all of this comes as u.s. businesses continue to suffer. many companies and manufacturers are voicin
liver problems can occur with entyvio. if your uc or crohn s treatment isn t working for you, ask your gastroenterologist about entyvio. entyvio. relief and remission within reach. the u.s. launched what is being called the largest trade war in economic history, imposing tariffs on $34 billion in chinese goods today. china retaliated with the same amount of tariffs on imported u.s. goods. joining me now is the former senior director for china affairs at the office of the u.s. trade representative under george w. bush, currently leading the china team at the albright stonebridge group. amy, great to see you. let s talk about the fallout from all this. once we re launched into this, how do we wind it down? i think it s really hard to say. i don t think trade wars are easy to win. i don t think they re quick to
joining me now cnn senior economic analyst and cnn global affairs analyst and someone who served as adviser to john mccain. nice to have you here. good morning to you. let s check the facts on what the president says. yesterday i took a look at this web page. let s pull it up 6789 th. this is the office of the u.s. trade representative. here is what it reads. the u.s. goods and services trade surplus with canada was $8.4 billion in 2017. the key word is surplus. now it has to do with goods and services but the president seems to be deliberately disregarding
turn up the volume for this. facts. president trump has claimed the u.s. has a trade deficit with canada. for fact s sake, let s set the record straight. i know sean hannity and tucker carlson love to take our segments. here s one. according to the office of the u.s. trade representative, u.s. goods and services, because that s how you look at the whole number, boys, that trade with canada totaled $674 billion in 2017. now, when president trump says there s a trade deficit, it s only when it comes to goods. he s only looking at part of the numbers. the u.s. trade rep says the u.s. has a $17.5 billion goods deficit with canada in 2017. now, factor together goods and services, because that s the whole number, remember the service economy, u.s. exports were $341.2 billion. imports were $332.8 billion.
believe it. well, sir, you re actually right. we have no deficit. but that doesn t include energy and timber. you know, timber. it was $17 billion a year. it s incredible. but here s the thing. according to the office of the u.s. trade representative, the u.s. does not have a trade deficit with canada at all. in fact, as of 2016, we were running a $12 billion surplus. nbc s kelly o donnell is at the white house. kelly, this is pathetic. this is humiliating. what could the white house possibly say because trump being trump is a nonsense answer. if that s where trump is, he s a straight-up liar. well, good morning. i expect we ll hear more about this as the day unfolds. but at this hour of the morning, the first sort of description that i ve been getting about how the president handled himself