President Donald Trump says trade talks between China and the U.S. are continuing in a "very congenial manner" despite new tariffs the U.S. imposed Friday on $200 billion in Chinese imports.
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Trump tweeted Friday that the increased tariffs will bring "FAR MORE wealth" to the United States, although a study by the Federal Reserve Bank of New York and Columbia and Princeton universities says the burden of tariffs falls on U.S. consumers and businesses that buy imports.
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Some lawmakers have recently expressed concern about the effect of the tariffs on farmers.
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Trump suggested on Twitter Friday that money from the additional tariffs would allow the U.S. to buy more agricultural goods from U.S. farmers and ship it to "poor & starving" countries.
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Talks between the U.S. and China continue Friday.
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