President Donald Trump claimed that "many firms" are leaving China because of tariffs against Chinese goods, and said that there has been "no visible increase in costs or inflation" because of them.
"China is subsidizing its product in order that it can continue to be sold in the USA," the president said in tweet early Monday.
"Many firms are leaving China for other countries, including the United States, in order to avoid paying the Tariffs. No visible increase in costs or inflation, but U.S. is taking Billions!"
China on Sunday blamed the United States for the current trade dispute, saying it won't back down on "major issues of principle" without specifying what steps it might take.
In a report issued from the Cabinet spokesman's office, Beijing said China has kept its word through 11 rounds of talks with the United States but accused the United States of backtracking by introducing new tariffs and agreements.
Trump's tweet also came as Mexican and U.S. officials prepare for talks after he vowed late last week to impose a series of escalating tariffs on all Mexican goods if Mexico doesn't halt the flow of illegal immigrants passing through the country to enter the United States.
Trump says he'll apply tariffs of 5% on Mexican goods starting June 10, gradually rising to 25% if the country doesn't comply with his demands.
Sandy Fitzgerald ✉
Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics.
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