President Trump on Saturday defended his policy of using tariffs to pressure other nations to negotiate revised trade deals after the latest round of U.S. talks in China wrapped up without any significant progress toward a deal.

Axar.az reports citing The Hill that Trump defended his position on trade after his administration threatened this week to place another 10 percent tariff on $300 billion in Chinese goods beginning on Sept. 1. That, combined with existing 25 percent penalties on $250 billion in goods, would impose levies on virtually all remaining Chinese imports.

Things are going along very well with China. They are paying us Tens of Billions of Dollars, made possible by their monetary devaluations and pumping in massive amounts of cash to keep their system going. So far our consumer is paying nothing - and no inflation. No help from Fed!

“Raising tariffs by 10 percent on an additional $300 billion worth of imports from China will only inflict greater pain on American businesses, farmers, workers and consumers, and undermine an otherwise strong U.S. economy,” Myron Brilliant of the U.S. Chamber of Commerce, the country’s largest business group, which has frequently tangled with Trump on trade.