The US President Donald Trump has insisted his negotiators are "right where we want to be with China” as the bruising trade battle between the two superpowers continues.
It comes after the US increased tariffs on €200bn worth of Chinese goods from 10% to 25%.
Trade talks between the two sides ended without a deal after 90 minutes on Friday after the new tariffs were announced.
Overnight, President Trump claimed that China will be forced to pay “tens of billions” of dollars in duties to the US as a result of the increases.
“We are right where we want to be with China,” he wrote.
“Remember, they broke the deal with us and tried to renegotiate.
“We will be taking in tens of billions of Dollars in tariffs from China. Buyers of product can make it themselves in the USA, or buy it from non-Tariffed countries.
....We will then spend (match or better) the money that China may no longer be spending with our Great Patriot Farmers (Agriculture), which is a small percentage of total Tariffs received, and distribute the food to starving people in nations around the world! GREAT! #MAGA
— Donald J. Trump (@realDonaldTrump) May 12, 2019
He made the claim after his top economic advisor Larry Kudlow admitted that US businesses and customers who would pay for the tariff increases.
He said “both sides will suffer” as a result of the ongoing trade war.
Research has shown that the US will be most impacted by the tariffs, with the levies paid by importers and passed on to consumers.
Mr Kudlow said the US economy will not be damaged "in any appreciable way” as it is currently “in a boom.”
China has said that it will retaliate to the tariff increases but it has yet to announce any details.
