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U.S. Will No Longer Tolerate Unfair Trade Practices, Trump Tells APEC Leaders

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President Donald Trump has made it clear that the U.S. will no longer tolerate closed markets, intellectual property theft and unfair trade practices that have harmed American workers.

Trump delivered a defiant address at the Asia-Pacific Economic Cooperation (APEC) summit in Vietnam Friday that was characterized by his hard-line economic nationalism.

"We are not going to let the United States be taken advantage of anymore ... I am always going to put America first, the same way I expect all of you in this room to put your countries first," Trump told the Pacific Rim leaders.

Trump made his government's policy clear: The U.S. will not seek multilateral free trade deals. Instead, he prefers mutually beneficial bilateral pacts.

"We will make bilateral trade agreements with any Indo-Pacific nation that wants to be our partner and that will abide by the principles of fair and reciprocal trade," Trump said.

Trump withdrew America from the Trans-Pacific Partnership, the landmark trade accord negotiated by the Obama administration, on his third day in office.

"The United States is prepared to work with each of the leaders in this room today to achieve mutually beneficial commerce that is in the interests of both your countries and mine," Trump said.

The president offered APEC member nations a renewed partnership with America -- "to work together to strengthen the bonds of friendship and commerce between all of the nations of the Indo-Pacific, and together, to promote our prosperity and security."

He said the current trade imbalance is not acceptable to the United States. However, he did not put the blame on China or any other country for taking advantage of the U.S. on trade but rather on previous administrations.

by RTT Staff Writer

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