China is paying US tens of billions of dollars: Trump

Bloomberg

US President Donald Trump said “things are going along very well with China,” and repeated his contention that Beijing is paying the US “Tens of Billions of Dollars” after successive rounds of import tariffs.
This was “made possible by Chinese government’s monetary devaluations and their pumping in massive amounts of cash to keep their system going,” Trump said in a pair of tweets on Saturday.
The president also reiterated his view that the American consumer had “paid nothing” and suggested there had been “no inflation” as a result of the US tariff regime.
In an earlier tweet, Trump wrote that countries were “coming to us wanting to negotiate REAL trade deals” and “don’t want to be targeted for Tariffs by the US.”
The 10 percent proposed tariffs on another $300 billion in imports from September 1 would target a wide range of goods, from smartphones and other electronics to clothing to toys, hitting American consumers more directly than previous rounds of tariffs.
The latest US moves mark an abrupt escalation of the trade war between the world’s largest economies, shortly after the two sides restarted talks after a hiatus. Beijing had pledged to respond if the US insists on adding extra tariffs to the remainder of Chinese imports.
“China has to do a lot of things to turn it around,” Trump said at an event. “Frankly if they don’t do it I could always increase it very substantially.”