U.S. President Donald Trump has on many occasions said the trade imbalance between the U.S. and China is a sign that America is being 'ripped off.'
The trade war between the U.S. and China — which has threatened global growth — was a result of"economic illiteracy" on the part of President Donald Trump, according to an economics professor at Columbia University.
"The problem with the trade talks is that it's all based on a false premise. The premise is that somehow China's trade imbalance is because of unfair practices. This is the kind of economic illiteracy of the president of the United States," Jeffrey Sachs, a professor at Columbia University, told CNBC's Martin Soong on Saturday at the China Development Forum in Beijing.
CNBC contacted the White House outside U.S. business hours to request for a comment on what Sachs said, but has yet to hear back.
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