President Donald Trump has fantastic news on the trade negotiations with China and the stock market responded with gains.

Speaking to reporters, the president said that he believes a deal with China is near as talks continue to be active.

“We are going to have a fair deal with China. It’s going to be fair,” the president said.

“Are you talking to them actively, now?” one of the reporters asked.

“Actively, everything’s active. Everybody wants to be a part of what we’re doing,” the president responded.

“They know that they can’t get away with it any longer, but they’re still going to do fine, and we’re going to have a country that you can be proud of, not a laughing stock all over the world for many years, you know in 1913, they traded to the income tax system,” he said.

“We used to be all tariff and we had no income tax, and we had the wealthiest country we had proportionately from about 1870 to 1913. It was all tariffs, and we had more money than anybody,” the president said.

“They had committees on how to spend the money. They had so much money they didn’t know how to spend it. Then some brilliant person said, let’s go income tax. Let’s let the people pay we’re going to be able to substantially lower taxes when this is finished,” he said.

“How does it look in the meantime?” another reporter said.

“It looks good. We were losing anywhere from $3-5 billion a day. Think of it. We were losing billions of dollars a day under Biden and, and other presidents, frankly, but under Biden it got really worse. China got out of control,” the president said.

“We were losing $1 trillion a year, $1 trillion not a billion dollars, not a million dollars, $1 trillion. And now we’re going to be making money with everyone and everyone’s going to be happy, but we’re going to be, we’re no longer going to be the country that’s ripped off by every country in the world,” he said.