US, China Trade Stern Messages on Economy

Moments ago, U.S. President Donald Trump dismissed concerns over a protracted trade war with China, saying the US was "in a very strong position".

"Massive amounts of money from China and other parts of the world is pouring into the United States for reasons of safety, investment, and interest rates! We are in a very strong position. Companies are also coming to the U.S. in big numbers. A beautiful thing to watch!" Trump said on Twitter.

Trump remarks came a day after his administration ratcheted up tensions by labeling China a currency manipulator.

In return, China's central bank said that Washington's decision would "severely damage international financial order and cause chaos in financial markets".

" Washington's decision to ratchet up currency tensions on Monday would also prevent a global economic and trade recovery," the People's Bank of China (PBOC) said in the country's first official response to the latest U.S. salvo in the two sides' rapidly escalating trade war.

Meanwhile, a top White House adviser said that US President wants to continue trade talks with China and the Trump administration is still planning to host a Chinese delegation for further talks in September.

"He would like to make a deal," National Economic Council Director Larry Kudlow told CNBC, adding that it would have to be the "right deal". "He would like to continue negotiations," Kudlow said.