(CNN) -- Real estate mogul Donald Trump says he is seriously thinking about running for president but won't make a final decision until summer.

Appearing on CNN's "Piers Morgan Tonight" Wednesday night, Trump said the United States is faring poorly and has lost the respect of the world.

"I am seriously thinking about it. I won't make a decision till June," he said. "But I will make a decision and it may surprise people frankly, but I will make a decision sometime prior to June."

"I love this country. I hate what's happened to this country," he added. "We're a laughingstock throughout the world. We're not respected."

The multi-billionaire tycoon said that if elected, he would reassess American foreign policy, especially its relationship with China whom he considers "the enemy."

"The first thing I would do is announce very strongly that we're going to tax Chinese products -- 25% tax on all Chinese products. They will come to the table immediately and stop manipulating their currency which they're doing," he said.

"I see them as the enemy," he said. "They want to take over this country economically. They are not really out-competing. They are cheating. And we have people who don't know what to do, because we have the wrong people in office."

He also had harsh words for OPEC.

"Worse than China is OPEC," he said. "They wouldn't be there except for us. Twelve men sit around the table. They set the price of fuel. They set the price of $3.50 for your car right now, a gallon. Guess what that's going to be? 5, 6 and $7 very soon. Of course, there's nobody here that calls them and says, 'Fellows, you better not do it. "

Trump is worth an estimated $2 billion, according to Forbes magazine. Much of his success came in New York City's real estate market, but he has also been the star of a TV series called "The Apprentice" where he is reportedly paid $3 million per episode.

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