China's President Xi Jinping meets with President Donald Trump. Getty Former Obama official Rich Hass recounted early transition meetings with the Trump administration in 2016. A member of Trump's circle told Hass the US was in "an existential struggle" with China, and it was imperative they won. When they did, the Trump official continued, there would be "statues erected in our honor." See more stories on Insider's business page. A former Obama official said that the Trump administration believed they'd do so well negotiating with China that there would be statues erected in their honor one day.