Donald Trump has dismissed concerns about the trade war with China, while his top economic aide said the US president was committed to negotiations with Beijing after labelling the country a currency manipulator.

“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,” Mr Trump tweeted on Tuesday, a day after the US Treasury formally accused China of manipulating the renminbi to create an unfair trade advantage.

Larry Kudlow, the top White House economic adviser, told CNBC on Tuesday that the Trump administration wanted to continue talks with China and suggested that the president could adopt a flexible approach on tariffs. Mr Trump on Friday said he would impose tariffs on another $300bn in Chinese products from September 1.