Trump says trade deal with China was 95 percent done

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President Trump said Monday that a trade deal with China was “95 percent” complete before Chinese officials pulled the plug, prompting him to double down on his trade war with the world’s second-largest economy.

The president believed Treasury Secretary Steve Mnuchin and US Trade Representative Robert Lighthizer had cut a deal until the Chinese officials told them no.

“We had a deal with China. It was 95 percent there, and then my representatives as you know, Secretary Mnuchin and Bob Lighthizer, they went to China [and] were told the things fully agreed to we’re not going to get anymore. They’re going to unagree to them. That’s not unacceptable. I said that’s fine, put on the tariffs,” Trump said, appearing at the White House with Hungarian Prime Minister Viktor Orban.

The president also said the US was in a great negotiating position — even though the Dow dropped more than 700 points during the early afternoon after the Chinese imposed retaliatory tariffs.

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