Trump told a rally in New Hampshire on Friday that his trade pressure tactics are working on China, even though the two sides remain far apart on a deal, with talks scheduled for September.

He said Chinese currency devaluations are "going to hurt them badly" over time and force Beijing to make concessions.

"They're going to make a deal," he said.

Many analysts believe the tariffs he has imposed on Chinese products are responsible for a slowing of the US economy because the increased costs are being passed on to American consumers. But Trump disagreed.

"They're eating the tariffs, by the way," Trump said of the Chinese. "There's no price increase."

Warning of policies that would lead to tax increases if a Democratic candidate beats him in November 2020, Trump said the markets would have crashed if he had not won in 2016 and would do so again if he were defeated in 2020.

He claimed that Americans retirement accounts would 'go down the tubes' if he lost the presidency.

"Whether you love me or hate me, you've got to vote for me," he said.

Some US Treasury yields have hit record lows and the stock market has plunged in recent days over fears of a recession, undermining Trump's claim that he has resuscitated the economy.

On a working vacation at his golf club in Bedminster, New Jersey, Trump blamed the economic woes on Federal Reserve Chairman Jerome Powell's hesitation to cut interest rates.

"Jay Powell should be cutting rates," Trump told reporters in Morristown, New Jersey, before flying to New Hampshire.

Trump said in an interview with New Hampshire conservative radio talk show host Jack Heath that "we had a couple of bad days" on the stock market, but "we're going to have some good days because we had to take on China.

One view inside the White House is that the media is also to blame for overplaying the possibility of a downturn, which could end up encouraging consumers to slow spending.

Australian Associated Press