Trump defends trade war, says US economy is world’s best

Donald Trump Trade War

Washington, Aug 19 Defending US trade war with China, President Donald Trump said Washington has imposed heavy tariffs on Beijing goods while terming US economy “the best in the world.”

“Our economy is the best in the world, by far. Lowest unemployment ever within almost all categories,” wrote Trump on his Twitter account, the Efe news reported.

The US economy is “Poised for big growth after trade deals are completed. Import prices down,” the president added in the same tweet, going on to claim that “China eating Tariffs. Helping targeted Farmers from big Tariff money coming in. Great future for USA!”

In another Twitter post, the President alluded directly to his administration’s policy toward the Asian giant, saying “We are doing very well with China, and talking!”

On August 1, Trump threatened to slap 10 per cent tariffs on an additional $300 billion worth of Chinese exports to the US that are still not weighed down with the tariffs the US imposed previously. The new tariffs were slated to go into effect on September 1, a threat that intensified the trade war between the two economic powerhouses, since the new tariffs would have meant that all China’s products would be subject to significant import duties when entering the US.

However, Trump later postponed the measure, saying that the new tariffs would not go into effect until December 15.

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