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Trump touts economy in spite of ‘unfair’ trade deals

Trump touts economy in spite of ‘unfair’ trade deals
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President TrumpDonald John TrumpBiden to nominate Linda Thomas-Greenfield for UN ambassador: reports Scranton dedicates 'Joe Biden Way' to honor president-elect Kasich: Republicans 'either in complete lockstep' or 'afraid' of Trump MORE touted his economic agenda on Tuesday and suggested that the U.S. economy could see further improvement once he is done "fixing" a series of international trade agreements.

In a tweet, Trump boasted that his efforts to renegotiate trade pacts are "coming along very well." He also added that U.S. trading partners agreed that the deals needed to be altered, but that none of his predecessors "ever asked."

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"The economy is doing perhaps better than ever before, and that’s prior to fixing some of the worst and most unfair Trade Deals ever made by any country," he tweeted. "In any event, they are coming along very well. Most countries agree that they must be changed, but nobody ever asked!"

The president's tweet came as the U.S. faces escalating trade disputes across the world, including with key U.S. allies, over the Trump administration's tariffs. 

The administration is poised to slap tariffs on tens of billions of dollars in Chinese products on Friday and has threatened duties on as much as $450 billion in goods from China, prompting threats of retaliatory measures from Beijing.

The European Union, Canada and Mexico — all subject to tariffs on steel and aluminum exports to the U.S. — have also started imposing duties on American goods in response. The E.U. and Canada have filed cases against the U.S. at the World Trade Organization (WTO).

Many U.S. manufacturers have decried the tariffs. General Motors warned last week, for example, that retaliatory duties from other countries could force it to cut jobs in the U.S. And Wisconsin-based Harley-Davidson has announced plans to shift some of its production overseas in the face of the retaliatory tariffs.

The Trump administration has also sought for months to renegotiate the North American Free Trade Agreement (NAFTA) with Canada and Mexico, though Trump said in a Fox News interview that aired on Sunday that he will not sign a new deal until after the November elections.