denmark
Gold Member
- Jun 5, 2018
- 1,080
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Trump doesn't understand economics!
Trump professed himself not "a fan" of the standard Memorandum of Understandings (MOU) that are used when drawing up trade deals.
Six MOUs have been drawn up between the US and China as part of their moves towards a new trade deal.
But Mr Trump said: "I don't like MOUs because they don't mean anything. To me they don't mean anything. I think you're better off just going into a document. I was never... a fan of an MOU."
His trade representative, Robert Lighthizer, contradicted him, saying: "An MOU is a contract. It's the way trade agreements are generally used... A Memorandum of Understanding is a binding agreement between two people.
"It's a legal term, it's a contract."
Trump 'doesn't understand economics'
Trump professed himself not "a fan" of the standard Memorandum of Understandings (MOU) that are used when drawing up trade deals.
Six MOUs have been drawn up between the US and China as part of their moves towards a new trade deal.
But Mr Trump said: "I don't like MOUs because they don't mean anything. To me they don't mean anything. I think you're better off just going into a document. I was never... a fan of an MOU."
His trade representative, Robert Lighthizer, contradicted him, saying: "An MOU is a contract. It's the way trade agreements are generally used... A Memorandum of Understanding is a binding agreement between two people.
"It's a legal term, it's a contract."
Trump 'doesn't understand economics'