President Donald Trump said on Sunday that the United States is "right where we want to be with China," adding that Beijing "broke the deal with us" and then sought 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 (ideal), or buy it from non-Tariffed countries," Trump said on Twitter.

Trump added: "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!"