Mubasher: US President Donald Trump on Monday took victory lap for a slowdown in the Chinese economy that he believed will to a more favourable trade deal with Beijing.

The world’s second biggest economy posted a growth of 6.2% on an annualised basis in the second quarter of this year, which marked the weakest pace seen in decades.

“In the meantime, we are receiving billions of dollars in tariffs from China, with possibly much more to come,” President Trump said.

During the past 12 months, the US dollar has appreciated by 3% against the Chinese yuan (CNY).

Washington and Beijing have been in a trade conflict for months, but lately President Trump agreed with his Chinese counterpart Xi Jinping to restart bilateral trade talks.