A day after considering cutting taxes to promote economic growth, President Donald Trump changed course and said he would abandon the idea because the nation already had "a strong economy."
"We don't need it. We have a strong economy."
He said he feared "it will be perceived, if I do it, as somewhat elitist."
"He raised interest rates too fast, too furious, and we have a normalised rate. And now we have to go the other direction."
"Somebody had to do it. So, I'm taking on China. I'm taking on China on trade."
China, though, said trade with the US has been "mutually beneficial" and appealed to Washington to "get along with us."
"I think that we actually are set for a tremendous surge of growth, if the Fed would do its job," Trump said. "That's a big if."
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