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Trump Praises Tariffs, Says "No Need To Rush" Trade Talks With China

trump4 112118 10may19 lt

After following through on his threat to raise tariffs on billions of dollars worth of Chinese imports, President Donald Trump indicated he is not in a hurry to resolve the escalating trade dispute between the U.S. and China.

Trump discussed the latest developments on trade in a series of posts to Twitter on Friday, just hours after the U.S. hiked the tariff on $250 billion worth of Chinese goods from 10 percent to 25 percent.

"Talks with China continue in a very congenial manner - there is absolutely no need to rush - as Tariffs are NOW being paid to the United States by China of 25% on 250 Billion Dollars worth of goods & products," Trump tweeted.

China's Commerce Ministry pledged take "necessary countermeasures" if the U.S. went ahead with the planned increase in tariffs, raising concerns about the global economic impact of a full-fledged trade war.

Trump seemed dismissive of the concerns, however, once again threatening to impose a 25 percent tariff on the remaining $325 billion worth of Chinese imports.

The president indicated the U.S. would use the money brought in by the tariffs to purchase agricultural products from American farmers and ship them to poor and starving countries in the form of humanitarian assistance.

"Tariffs will bring in FAR MORE wealth to our Country than even a phenomenal deal of the traditional kind. Also, much easier & quicker to do," Trump tweeted. "Our Farmers will do better, faster, and starving nations can now be helped."

He added, "Your all time favorite President got tired of waiting for China to help out and start buying from our FARMERS, the greatest anywhere in the World!"

Trump accused China of attempting to alter previously negotiated terms of a potential trade deal at the last minute

"This is not the Obama Administration, or the Administration of Sleepy Joe, who let China get away with 'murder!'" Trump said in an apparent reference to Democratic presidential candidate and former Vice President Joe Biden.

(Photo: Gage Skidmore)

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