Washington, July 16 US President Donald Trump has said that the tariffs imposed by his administration were taking a toll on China’s economy, causing the Asian giant’s growth rate to slow.
“China’s 2nd Quarter growth is the slowest it has been in more than 27 years. The US tariffs are having a major effect on companies wanting to leave China for non-tariffed countries, Trump said.
Trump said the tariffs were not only influencing corporations’ decisions on where to set up operations, but also putting pressure on Beijing to reach a trade agreement with Washington.
“Thousands of companies are leaving. This is why China wants to make a deal with the U.S., and wishes it had not broken the original deal in the first place,” Trump said.
The US leader touted the revenue generated by the tariffs imposed on imported Chinese goods.
“In the meantime, we are receiving billions of dollars in tariffs from China, with possibly much more to come. These tariffs are paid for by China devaluing & pumping, not by the U.S. taxpayer!” Trump tweeted.
Trump’s tweets were posted hours after the Chinese government said the gross domestic product (GDP) grew 6.3 per cent in the first half of 2019, or 0.50 percentage points less than in the same period last year.