Trump warns China against waiting until after election to make trade deal

President TrumpDonald John TrumpBusiness, ballots and battling opioids: Why the Universal Postal Union benefits the US Sanders supporters cry foul over Working Families endorsement of Warren California poll: Biden, Sanders lead Democratic field; Harris takes fifth MORE on Tuesday sought to pressure China into coming to terms on a trade deal before the 2020 presidential election, warning that any agreement would get "MUCH TOUGHER" if Beijing waited.

Trump claimed that the U.S. is doing "very well" in negotiations with China, though talks have stalled and the two countries have levied retaliatory tariffs on one another for months on end.

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The president suggested China would have a difficult time waiting him out, however, with the 2020 election still more than a year away.

"While I am sure they would love to be dealing with a new administration so they could continue their practice of 'ripoff USA'($600 B/year),16 months PLUS is a long time to be hemorrhaging jobs and companies on a long-shot," Trump tweeted. "And then, think what happens to China when I win. Deal would get MUCH TOUGHER!"

The president added that aspects of China's economy are "crumbling" in the meantime. China's economy has slowed down amid the trade war with the U.S., though scores of companies have not relocated out of the country as Trump has previously claimed.

Tuesday's tweets underscored Trump's commitment to seeing through the trade war with China even as uncertainty over next steps rattled investors and contributed to fears of a global economic slowdown.

The Dow Jones Industrial Average was down nearly 400 points as of Tuesday morning after the two sides had still not reached a concrete arrangement to hold negotiations this month as previously expected.

The Trump administration increased tariffs from 10 percent to 15 percent on a tranche of Chinese imports over the weekend. Another increase is set to go into effect next month.