March 22, 2018 / 8:28 PM / a year ago

Trump initiates trade action against China

U.S. President Donald Trump in Washington, U.S. March 22, 2018. REUTERS/Jonathan Ernst

WASHINGTON (Reuters) - U.S. President Donald Trump initiated a trade action against China on Thursday, saying the U.S. deficit with Beijing was “out of control” at about $504 billion (£357.1 billion) and there was a huge “intellectual property theft situation.”

“It is the largest deficit of any country in the history of our world. It’s out of control,” Trump said before signing a memorandum. “We have a tremendous intellectual property theft situation going on, which likewise is hundreds of billions of dollars.”

Reporting by David Lawder,; Writing by David Alexander

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