Donald Trump has admitted his life would be easier if he had not mounted a trade war with China but declared he is “the chosen one” to take on Beijing.

The US president insisted he was “winning” against China and would “probably” secure a deal to fix the trade imbalance.

“Somebody had to do it,” he told reporters outside the White House. Looking up at to sky, he added: “I am the chosen one.”

Mr Trump’s self-aggrandising proclamation came during a press conference in which he defended waging a trade war with Beijing in the face of a looming recession.

His administration is to slap a 10 per cent tariff on $300 billion (£248.7 billion) of Chinese goods from September, with taxes on further products to follow in December.

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(AP Photo/Evan Vucci) Evan Vucci AP Trump protests: President visits Texas and Ohio after mass shootings El Paso Anti-Trump protesters hold a banner outside the makeshift memorial to the victims of the WalMart shooting that left a total of 22 people dead, in El Paso, Texas, on August 7, 2019. - President Donald Trump consoled victims of a mass shooting in Ohio on Wednesday but protesters and opponents denounced what they say is his extremist rhetoric on race and immigration. The president's trip to Dayton, where nine people were gunned down over the weekend, was to be followed immediately after by a stop in the border city of El Paso, Texas, where 22 were murdered. (Photo by Mark RALSTON / AFP)MARK RALSTON/AFP/Getty Images MARK RALSTON AFP/Getty Trump protests: President visits Texas and Ohio after mass shootings Miami Valley Hospital, Dayton Demonstrators gather to protest the arrival of President Donald Trump outside Miami Valley Hospital after a mass shooting that occurred in the Oregon District early Sunday morning, Wednesday, Aug. 7, 2019, in Dayton. Twenty-four-year-old Connor Betts opened fire in Dayton early Sunday, killing several people including his sister, before officers fatally shot him. (AP Photo/John Minchillo) John Minchillo AP Trump protests: President visits Texas and Ohio after mass shootings El Paso Democratic presidential candidate Beto ORourke hugs a woman at a makeshift memorial outside Walmart honoring victims of the mass shooting there which left 22 people dead. Getty Trump protests: President visits Texas and Ohio after mass shootings El Paso Anti-Trump protesters hold signs outside the makeshift memorial to the victims of the WalMart shooting that left a total of 22 people dead, in El Paso, Texas, on August 7, 2019. - President Donald Trump consoled victims of a mass shooting in Ohio on Wednesday but protesters and opponents denounced what they say is his extremist rhetoric on race and immigration. The president's trip to Dayton, where nine people were gunned down over the weekend, was to be followed immediately after by a stop in the border city of El Paso, Texas, where 22 were murdered. (Photo by Mark RALSTON / AFP)MARK RALSTON/AFP/Getty Images MARK RALSTON AFP/Getty Trump protests: President visits Texas and Ohio after mass shootings El Paso Marisela Hernandez holds sign to protest the visit of President Donald Trump to the border city after the Aug. 3 mass shooting in El Paso, Texas, Wednesday, Aug. 7, 2019. Aiming to play the traditional role of healer during national tragedy, President Donald Trump paid visits Wednesday to cities reeling from the mass shootings. (AP Photo/Andres Leighton) Andres Leighton AP Trump protests: President visits Texas and Ohio after mass shootings El Paso, University Medical Centre An anti-Trump demonstrator holds up a placard outside the University Medical Center, where U.S. President Donald Trump holds a meeting with first responders in the wake of last weekend's mass shootings at a Walmart store, in El Paso, Texas, U.S., August 7, 2019. REUTERS/Jose Luis Gonzalez JOSE LUIS GONZALEZ Reuters Trump protests: President visits Texas and Ohio after mass shootings El Paso, University Medical Centre President Trump and First Lady Melania Trump greet PFC Glendon Oakley (second right), who saved several lives during the mass shooting in Texas AFP/Getty Trump protests: President visits Texas and Ohio after mass shootings Miami Valley Hospital, Dayton Demonstrators chant as they protest the arrival of President Donald Trump outside Miami Valley Hospital after a mass shooting that occurred in the Oregon District early Sunday morning, Wednesday, Aug. 7, 2019, in Dayton. (AP Photo/John Minchillo) John Minchillo AP Trump protests: President visits Texas and Ohio after mass shootings El Paso, University Medical Centre An anti-Trump demonstrator holds up a placard as police block the area outside the University Medical Center, where U.S. President Donald Trump holds a meeting with first responders in the wake of last weekend's mass shootings at a Walmart store, in El Paso, Texas, U.S., August 7, 2019. REUTERS/Jose Luis Gonzalez JOSE LUIS GONZALEZ Reuters/Amanda Voisard Trump protests: President visits Texas and Ohio after mass shootings El Paso Beto ORourke consoles a man at the makeshift memorial outside Walmart Getty Trump protests: President visits Texas and Ohio after mass shootings El Paso, University Medical Centre An anti-Trump demonstrator yells near police outside the University Medical Centre Reuters Trump protests: President visits Texas and Ohio after mass shootings El Paso TOPSHOT - El Paso residents protest against the visit of US President Donald Trump to the city after the Walmart shooting that left a total of 22 people dead, in El Paso, Texas, on August 7, 2019. - President Donald Trump consoled victims of a mass shooting in Ohio on Wednesday but protesters and opponents denounced what they say is his extremist rhetoric on race and immigration. The president's trip to Dayton, where nine people were gunned down over the weekend, was to be followed immediately after by a stop in the border city of El Paso, Texas, where 22 were murdered. (Photo by Mark RALSTON / AFP)MARK RALSTON/AFP/Getty Images MARK RALSTON AFP/Getty Images Trump protests: President visits Texas and Ohio after mass shootings Dayton President Donald Trump and First Lady Melania Trump arrive at Wright-Patterson Air Force Base AP Trump protests: President visits Texas and Ohio after mass shootings El Paso Makeshift memorial for victims of the shooting that left a total of 22 people dead at the Cielo Vista Mall Walmart AFP/Getty Images Trump protests: President visits Texas and Ohio after mass shootings Miami Valley Hospital, Dayton Demonstrators gather to protest the arrival of President Donald Trump outside Miami Valley Hospital after a mass shooting that occurred in the Oregon District early Sunday morning, Wednesday, Aug. 7, 2019, in Dayton. (AP Photo/John Minchillo) John Minchillo AP Trump protests: President visits Texas and Ohio after mass shootings President Trump greets Dayton Mayor Nan Whaley as he arrives at Wright-Patterson Air Force Base AFP/Getty Trump protests: President visits Texas and Ohio after mass shootings Miami Valley Hospital, Dayton Demonstrators gather to protest the arrival of President Donald Trump outside Miami Valley Hospital after a mass shooting that occurred in the Oregon District early Sunday morning, Wednesday, Aug. 7, 2019, in Dayton, Ohio. Twenty-four-year-old Connor Betts opened fire in Dayton early Sunday, killing several people including his sister, before officers fatally shot him. (AP Photo/John Minchillo) John Minchillo AP Trump protests: President visits Texas and Ohio after mass shootings Dayton Damon Smith presents a message to President Donald Trump beside a makeshift memorial in Dayton AP Trump protests: President visits Texas and Ohio after mass shootings Miami Valley Hospital, Dayton Demonstrators gather in front of an inflatable "Baby Trump" to protest the presidents arrival AP Trump protests: President visits Texas and Ohio after mass shootings Miami Valley Hospital, Dayton Demonstrators gather to protest the arrival of President Donald Trump outside Miami Valley Hospital after a mass shooting that occurred in the Oregon District early Sunday morning, Wednesday, Aug. 7, 2019, in Dayton. President Donald Trump is headed to Dayton and El Paso, Texas on Wednesday to offer a message of healing and unity, but he will be met by unusual hostility in both places by people who fault his own incendiary words as a contributing cause to the mass shootings . (AP Photo/John Minchillo) John Minchillo AP Trump protests: President visits Texas and Ohio after mass shootings El Paso A photo of victim Javier Amir Rodriguez, a 15-year-old sophomore Getty Trump protests: President visits Texas and Ohio after mass shootings Dayton Demonstrators protest the visit of US President Donald Trump to the site of the mass shooting in Dayton, Ohio, on August 7, 2019. - Nine people were killed on August 4 in the city's popular Oregon District. (Photo by Megan JELINGER / AFP)MEGAN JELINGER/AFP/Getty Images MEGAN JELINGER AFP/Getty Trump protests: President visits Texas and Ohio after mass shootings El Paso A message is left for Donald Trump AFP/Getty Trump protests: President visits Texas and Ohio after mass shootings El Paso Signs and flags adorn the makeshift memorial for victims of the shooting that left a total of 22 people dead at the Cielo Vista Mall Walmart, in El Paso, Texas, on August 7, 2019. (Photo by Mark RALSTON / AFP)MARK RALSTON/AFP/Getty Images MARK RALSTON AFP/Getty Trump protests: President visits Texas and Ohio after mass shootings El Paso People hug at the makeshift memorial AFP/Getty Trump protests: President visits Texas and Ohio after mass shootings El Paso People pray at the makeshift memorial AFP/Getty

The US has already imposed 25 per cent tariffs on $250 billion of Chinese goods, prompting China to apply duties on $110 billion of US imports in retaliation.

Mr Trump acknowledged for a second consecutive day the trade war could harm the US economy, although he insisted a recession was not on the horizon.

The non-partisan Congressional Budget Office (CBO) on Wednesday became the latest independent institution to warn about the consequences of the tariffs the president has ordered to be imposed on China and other countries.

The CBO said changes in US and foreign trade policies since January 2018 would reduce US gross domestic product by 0.3 per cent from what it would otherwise have been in 2020. Real income for the average US household is also expected to drop by 0.4 percent, it added.

The International Monetary Fund has warned global economic output could be reduced by as much as 0.5 per cent next year as a result of tariffs.

Mr Trump insisted he had to confront China over trade, even if it caused short-term harm to the US economy, because Beijing had been cheating Washington for decades.

“This isn’t my trade war, this is a trade war that should have taken place a long time ago,” he said. “Somebody had to do it, so I’m taking on China on trade. And you know what? We’re winning.”

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China‘s foreign ministry downplayed the comments, emphasising the need for dialogue to resolve differences on trade issues.

But it also threatened to retaliate with sanctions on US companies if Washington proceeded with an $8 billion arms sale to Taiwan, saying such deals interfered with China’s internal affairs and violated Chinese sovereignity.