WASHINGTON, Aug 6 — US President Donald Trump today dismissed concerns over a protracted trade war with China, saying the United States was “in a very strong position,” a day after his administration ratcheted up tensions by labelling Beijing a currency manipulator.
Trump, who said last week he would slap tariffs on a further US$300 billion (RM1.25 trillion) in Chinese imports starting September 1, also sought to appease US farmers after China shut the door to American agricultural purchases and raised the specter of additional tariffs on US farm products.
The US currency move yesterday further inflamed an escalating dispute between the world’s two largest economies that is dragging into a second year, rattling financial markets. Wall Street notched its worst day of 2019 yesterday.
Trump today appeared unbowed, tweeting: “Massive amounts of money from China and other parts of the world is pouring into the United States for reasons of safety, investment, and interest rates! We are in a very strong position. Companies are also coming to the US in big numbers. A beautiful thing to watch!”
The Republican president also said he would continue to back American farmers, who have seen his administration already offer a US$16 billion aid package to recoup losses from the ongoing trade war.
“Our great American Farmers know that China will not be able to hurt them in that their President has stood with them and done what no other president would do — And I’ll do it again next year if necessary!” Trump wrote today. — Reuters
Source: The Malay Mail Online