President Donald Trump on Wednesday said the United States is "tariffing" China and as a result the Asian giant's economy is not doing well.
"They (Chinese) are trying to catch us, and you know, one of the things I've done is, China had the worst year they've had in 27 years. They're not doing too well right now. We're tariffing them," Trump told cable channel C-Span, referring to the tariffs imposed by his administration on imported products from China.
"We're taking in many, many billions of dollars. I'm taking care of our farmers out of those tariffs because China hit them, as a way of retaliating against President Trump, and I said --I'll tell you -- our farmers are great patriots," he said.
American farmers are getting impacted by the tariff war. Trump is trying to compensate them by rerouting the tariff money.
Trump said American farmers were the biggest beneficiaries of the tariffs.
Speaking to the ongoing talks with China, Trump said it is up to him to accept a trade deal.
"We cannot let China do what they've done to us over the last 25 years. They've taken hundreds of billions of dollars out of our country every single year, hundreds of billions with a "B," not millions, billions," he said.
Expressing confidence in reaching a trade deal with China, Trump said "tariffs are killing" the Chinese economy and companies were looking to move out of the Asian nation.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)