The trade war between the world's two largest economies has been going on for a year.(FILE)

US President Donald Trump in a tweet on Sunday said "We are right where we want to be with China".

Trump's tweet read, "We are right where we want to be with China. Remember, they broke the deal with us & tried to renegotiate. We will be taking in Tens of Billions of Dollars in Tariffs from China. Buyers of product can make it themselves in the USA (ideal), or buy it from non-Tariffed countries."

In another tweet, he further said, "We will then spend (match or better) the money that China may no longer be spending with our Great Patriot Farmers (Agriculture), which is a small percentage of total Tariffs received, and distribute the food to starving people in nations around the world! GREAT!"

Earlier, Trump had asked China to act immediately and strike a trade deal without waiting for the 2020 US presidential elections. He warned Beijing saying that the negotiation would be "far worse" if it had to be done in his second term.

This comes after Trump's decision to raise tariffs on 200 billion dollars worth of Chinese imports from 10 to 25 per cent, a move which infuriated Beijing, saying it would retaliate.

Trump on Friday had said that the tariffs levied on Chinese goods "may or may not be removed" depending on the outcome of trade talks.

The trade war between the world's two largest economies has been going on for a year.