Trump is helping the Shorters push the SP down as retailers panick and sell, this could be under $2.80 tomorrow WTF
It's "unfortunate" that President
Donald Trump is castigating Europe but is treating China with "kid gloves" when it comes to trade, former diplomat Nick Burns told CNBC on Tuesday.
During a press conference on Tuesday,
Trump said the U.S. has been "taken advantage of" by other countries "for decades" and said the European Union has been "particularly tough." His comments come after the announcement last week that the U.S. will impose steel and aluminum tariffs.
"They make it almost impossible for us to do business with them," the president said in a joint news conference with Prime Minister Stefan Löfven of Sweden. "The European Union has not treated us well. It's been a very, very unfair trade situation."
In an interview with "
Closing Bell," Burns said, "The president continues to go after the European Union and describe them as strategic competitor rather than partner."
"This is a really difficult place for the United States to be, and it's not a good place to be. These are our allies in Europe," he added.
Meanwhile, it is
China that's the major trade violator in the world, said Burns, who served as U.S. ambassador to NATO and was the State Department's third-ranking official during
George W. Bush's presidency. He also advised the administrations of George H.W. Bush and
Bill Clinton.
"The president just doesn't have it quite right. I understand … he's trying to treat China respectfully because he needs them on
North Korea," he said. "You've got to be a little bit more honest and transparent about our long-standing trade differences with the Chinese government."
