Chicago, President Donald Trump said on Friday that he is in favor of curbing subsidies to emerging economies like India and China. He said, he believes that America is a developing country and wants his country to grow faster than any other country. He was addressing a program of his party in the city of Fargo in northern Dakota province. The program was for fund raising.
He also criticized the World Trade Organization (WTO). In his view, this multilateral trade organization gave China the chance to become a major economic force in the world by becoming a member. Trump said, “We are subsidizing some of these countries that they are considered to be developing and are not yet adequately developed. It’s all madness. Take India, take China and take others. All these are really growing. ‘
He said that these countries call themselves’ developing ‘and’ being in this category, they get subsidies … we have to pay them money. It’s all madness. We’re going to shut it down. We have closed it. ‘He said,’ We are also developing, is not it? As far as I believe, we are a developing country. I want us to be kept in the same category. We want to move faster than others. ‘
Let us know that the US President has indicated to further accelerate the trade war with China. Trump said that he is ready to raise the fee on almost all goods imported from China. In the coming days, the US President has threatened to charge goods worth more than $ 267 billion (about 19 lakh 25 thousand million rupees) of imported goods from China.