Trump: U.S. is a 'laughing stock'

donald_trump.gi.top.jpg By Annalyn Censky, staff reporter


NEW YORK (CNNMoney) -- Real estate mogul Donald Trump told hundreds of conservative activists Thursday, that if he was president, he would take in "hundreds of billions from countries that are screwing us."

The comment repeated past statements from "The Apprentice" star, who has said he wants to put a 25% tariff on all Chinese imports, to level trade imbalances in the global economy.

Speaking in D.C. at the annual Conservative Political Action Conference Thursday, Trump said the United States has become a "laughing stock" and "whipping post" for the rest of the world.

Among a laundry list of unrelated grievances, Trump was referring partially to a trade imbalance with China -- a topic he has previously ranted on publicly many times.

"The world is treating us without respect, they are not treating us properly," he said.

China has a massive trade surplus, meaning it exports far more than it imports. Meanwhile, the United States is running a $38.7 billion trade deficit.

While Trump's comments are more colorful than others, the imbalance between the world's two largest economies has become a sore point also for U.S. policymakers lately.

Treasury Secretary Tim Geithner has been pushing China to allow its currency, the yuan, to appreciate more rapidly against the dollar. Critics say China keeps its currency artificially low, giving their exporters an unfair advantage on the world stage.

And a tariff on China is not a new idea. In September, lawmakers in the House passed a bill to impose duties on imports from countries with undervalued currencies.

The Senate never voted on the bill, but a group of lawmakers has vowed to introduce similar legislation this year.

At the CPAC conference, Trump also ripped on OPEC for high oil prices and the New York Stock Exchange's negotiations with a German exchange.

Much to the disappointment of many in the crowd, he also said conservative favorite Rep. Ron Paul of Texas cannot win a presidential election.

"I like Ron Paul, I think he's a good guy, but honestly, he has just zero chance of getting elected," he said.

Trump reiterated he would consider running for president in the 2012 elections, but said he would not make an official decision until June. He told CNBC last month that he would first have to wait for the latest season of celebrity "Apprentice" to wind down.

"It lasts to almost June, and I'm not allowed to do anything or talk about it before that," he said at the time To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 17,111.58 40.36 0.24%
Nasdaq 4,512.70 6.85 0.15%
S&P 500 1,980.31 2.51 0.13%
Treasuries 2.49 -0.00 -0.04%
Data as of 11:58am ET
Company Price Change % Change
Ford Motor Co 14.82 -0.29 -1.92%
eBay Inc 56.46 3.80 7.22%
Bank of America Corp... 17.08 0.06 0.38%
Apple Inc 101.23 1.12 1.12%
Facebook Inc 79.36 0.36 0.45%
Data as of 11:43am ET

Sections

Even limited air operations could cost up to $4 billion a year, says a think tank, while large ground forces could cost $1.8 billion a month. More

Testing whether the iPhone 6 Plus BendGate controversy is real, some are testing it out in Apple Stores. More

On Wednesday, 17% of First Green Bank's 66 employees will get a raise under the company's new "living wage" program. The guarantee: At least about $30,000 a year. More

Case-Shiller's national index shows that price gains slowed in July for the seventh straight month. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.