U.S. President Donald Trump on Tuesday 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 labeling Beijing a currency manipulator.
Trump, who said last week he would slap tariffs on a further $300 billion in Chinese imports starting Sept. 1, also sought to appease U.S. farmers after China shut the door to American agricultural purchases and raised the specter of additional tariffs on U.S. farm products.
The U.S. currency move on Monday 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 on Monday.
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