Washington: US President Donald Trump said on Saturday that he believes the trade escalation with China could lead to good results. Trump stated in press statements, “I think something positive will come out of this,” referring to the trade tensions between Washington and Beijing, following the imposition of mutual tariffs by both countries.

According to National Iraqi News Agency, the US President added that he found common ground with Chinese President Xi Jinping, emphasizing, “We are in a good place right now.” Trump elaborated on the tariffs, explaining, “The bond market is doing well, and I think the value of the dollar will rise when people realize what we are doing.” He continued by asserting, “Our country is making a lot of money for the first time in a long time.”

Previously, Trump announced an increase in the US tariff rate on Chinese imports to 125 percent, citing “China’s lack of respect for global markets.” Simultaneously, he declared a 90-day suspension of tariffs on more than 75 countries, reducing them to a minimum of 10 percent.