A Bloomberg poll has revealed that an overwhelming majority of Americans would be willing to spend more money on products if they are manufactured outside of China, with 40% saying they simply will not buy anything made in China at all.
In addition to these findings, 55% said that they do not believe China can be trusted to fulfil its trade-deal commitment to buy more U.S. products, while 66% said they favor raising import restrictions over the pursuit of free-trade deals as a better way to boost the U.S. economy.
The findings come as President Trump announced that he now feels ‘differently’ about the trade deal he signed with China earlier this year.
”I feel differently now about that deal than I did three months ago,” Trump told reporters Tuesday.
”We will see what all happens, but it’s been a very disappointing situation. Very disappointing thing happened with China because the plague flowed in and that wasn’t supposed to happen and it could have been stopped,” Trump added.
”Once the virus came in, once the plague, as I called it, came in, I said how did they let that happen? And how come it didn’t go into other sections of China? Why did they block it from leaving Wuhan? But they didn’t block it from going to the rest of the world, including the United States. Why is that? Beijing doesn’t have it. Other places don’t have it,” he continued.
The President touted trade deals that the US has with other countries.
“People don’t realize the amount of business that we do with Canada and with Mexico is monumental. It is the biggest trade deal in the world, bigger than the deal we made with China, most people don’t know and the China deal is kicking in.” Trump said.
As I have said for a long time, dealing with China is a very expensive thing to do. We just made a great Trade Deal, the ink was barely dry, and the World was hit by the Plague from China. 100 Trade Deals wouldn’t make up the difference – and all those innocent lives lost!
— Donald J. Trump (@realDonaldTrump) May 13, 2020
Earlier this month, Trump tweeted that 100 trade deals with China wouldn’t make up for the ‘plague from China’.
After two years of tariff wars and now the scourge of a coronavirus that originated in China, it’s hardly surprising to see some souring of U.S. public opinion about the country’s main economic rival. But the degree of the shift and the timing of it — less than six months before a presidential election — may mark a sea change in the electorate. It could embolden some of China’s harsher critics in Washington, with huge potential consequences for financial markets.