Trump says tariffs are incentivizing US investment, hurting China

President Donald Trump said on Wednesday that his management tariff stimulates investment in the United States, while China “is doing very bad now.”

“I heard that Samsung – now because of the definitions – will build huge facilities in the United States,” Trump said during the cabinet meeting. “If we do not do the definitions, they will not do it.”

Trump said earlier this month that he attracted more than 7 trillion dollars in private investments since his election, from companies such as Apple, Eli Lilly and Stargate, as well as countries such as Saudi Arabia, the United Arab Emirates and Japan.

He told reporters on Wednesday: “We have more money that is spent more than any time in our country’s history. We are about $ 8 trillion, and I think I can say,” he told reporters on Wednesday. “This includes chips, car companies. Every form of manufacturing, super technology companies. Nobody has ever seen anything like that.”

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President Donald Trump will speak during the White House cabinet meeting in Washington, DC, on Wednesday. (Ken CEDENO/Upi/Bloomberg via Getty Images/Getty Images)

“What they need is an incentive to enter and definitions – they are building due to the customs tariff. I would like to say that they are building because of November 5, elections and definitions. But I will become a little more severe. They are building because of the definitions. And November 5 gave them definitions.”

Meanwhile, China “is very poorly operating now” in its trade war with the United States, according to Trump.

Chinese caves on a 125 % tariff for the main American export after the White House expects that Beijing cannot keep up with it

Chinese President Xi Jinping is running President Donald Trump before a bilateral meeting on the sidelines of the G20 summit in Osaka, Japan, in June 2019. (Brendan Smialowski/AFP/Getty Images/Getty Images)

“I have just seen some reports that come out – and I don’t want to happen to China – the president loved very much. President Xi, I don’t want to happen. I really felt sad to hear it. But they are exposed to the disease in China,” Trump said.

“They send boats, the largest boats in the world, carry goods as it has never been unprecedented. These are the largest boats in the world, and the largest shipping ships in the world. They are coming and they wander around the Pacific.

President Donald Trump interacts with a meeting in the Cabinet at the White House in Washington, DC, on Wednesday. (Reuters / Evlin Hakstein / Reuters)

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“We are talking to China, but their factories are closed all over China because we do not take its products. We do not want their product unless they are fair with us. This includes intellectual property and other things. There are many things that go beyond just buying/selling. So we will see what is happening,” Trump said. “I want China to work well. I want every country to do a good job, but they have to treat us some extent too.”

Greg Wehner in Fox Business contributed to this report.