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Trump ups ante on India, China, calls to stop subsidies to 'growing economies'

Addressing a fundraiser event in the Fargo city of North Dakota, he also accused the World Trade Organization (WTO) of allowing China to become a "great economic power".  

Edited by: India TV News Desk, Washington [ Published on: September 08, 2018 9:16 IST ]
US President Donald Trump

US President Donald Trump

Further tightening his leash, US President Donald Trump on Saturday called for cutting off subsidies to growing economies like India and China. 

Addressing a fundraiser event in the Fargo city of North Dakota, he also accused the World Trade Organization (WTO) of allowing China to become a "great economic power".

He said that they call themselves developing nations and "under that category they get subsidies."

"We have to pay them money. This whole thing is crazy, but we're going to stop it. We're going to stop it. We have stopped it.

"We are a developing nation, too, OK? We are. As far as I'm concerned, we are a developing nation. I want to be put down in that category because we are growing, too. We are going to grow faster than anybody," Trump said amidst applause from the audience.

Attacking the WTO, Trump said he thinks that the World Trade Organization was probably the worst of all. "But a lot of people don't know what that is, that allowed China to become this great economic power".

On the trade deficit between the US and China, which has led to a tariff war between the world's top two economies, he said, "I'm a big fan of (Chinese) President Xi Jinping, but I told him, 'we have to be fair'."

"We can't let China take USD 500 billion a year out of the United States and rebuild itself," he added.

The President also said that the US should get paid for securing the wealthy countries from the outside harm. 

"I think it's fine, but they got to pay us for this. We're watching the whole world and they take it for granted.

"For years and years we've been protecting these countries. They're making a fortune. They've had very little military cost. We have the biggest military cost in the world. Most of it goes to protecting outside countries, some of whom don't even like us," Trump said.

"We're protecting countries that have -- I got to say, they do have respect for us now, but they didn't have any respect for us, and they got to pay. They got to pay, you know, when they're wealthy," he said. 

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