The United States President Donald Trump said the U.S. is winning the trade feud, right after renewing the trade talks and reaching a trade truce with the Chinese. Trump, who was at the Korea meeting with his counterpart, Kim Jong Un, also highlighted that he's unhappy with the Federal Reserve latest policy decisions saying that the Fed "has not been of help to us at all" in the trade war with China.
"Despite that, we're winning, and we're winning big because we have created an economy that is second to none," Trump said.
It's still not clear what comes next for Trump and his counterpart, Xi Jinping since none of the parts has released the details about their last meeting and the plan they're willing to follow. Trump just made clear that he would keep the extra tariffs he was planning to impose on hold and would let American companies deal with the Chinese Huawei technologies.
"We are where we are," he said on a press conference after being asked about the situation with China, a. "We're collecting 25 percent on $250 billion, and China is paying for it, as you know, because, as you notice, our inflation hasn't gone up," he added.
Since Trump is now focused on the Foreign Exchange market (he previously accused Europe of taking advantage in this area) he also accused China of devaluing its currency in order to pay for the tariffs, going against the consensus amongst the economists and denying that it's the United States consumers who are paying for them.
"China has devalued their currency in order to pay for the tariffs," he said, "And in addition to devaluing, they've also pumped a lot of money into their economic model...They've been pumping money in. We haven't. We've been retracting. We've been raising interest rates and they've been lowering interest rates."
Some analysts consider that Trump's behavior is undermining the Federal Reserve independence, as has been constantly complaining about the Fed's decision to raise the interest rates in 2018.