103823456 hi049890354 - Trump says Chinese 'lived too well for too long'
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Trump says Chinese 'lived too well for too long'

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AFP

US President Donald Trump has said his trade policies have hurt China’s economy, adding: “I have a lot more to do.”

Mr Trump also told Fox News the Chinese had lived too well for too long.

The US and China have slapped tit-for-tat tariffs on hundreds of billions of dollars of each other’s goods over the past few months.

Investor worries about the escalating trade conflict have rattled financial markets.

In a telephone interview on the Fox & Friends programme on Thursday morning, Mr Trump suggested his trade policies had inflicted economic pain on China.

“I put $250bn worth of taxes, or tariffs, on China and it’s had a big impact if you look at their economy now it’s a whole different ball game.

“Their economy has gone down very substantially. And I have a lot more to do if I want to do it and I don’t want to do but they have to come to the table.

“They want to negotiate, they want to negotiate badly, but I told them, ‘You’re not ready yet. You’re not ready yet.’

“They lived too well for too long and frankly I guess they think that the Americans are stupid people. Americans are not stupid people.”

Mr Trump also renewed his criticism of the US central bank.

He said the Federal Reserve was being “too aggressive” by raising interest rates this year and getting “a little bit too cute”.

The Republican president told the presenters: “They’re [Fed bankers are] making a big mistake.”

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