President Donald Trump said on Monday the US and China—the world’s two largest economies—"are going to have a great relationship," even as he warned that if he chose to, he could "destroy China" by playing the "incredible cards" at his disposal, Fox News reports.

"We have much bigger and better cards than they do," Trump told reporters in the Oval Office ahead of a bilateral meeting with South Korean President Lee Jae Myung. "They have some cards. We have incredible cards. But I don’t want to play those cards. If I did, that would destroy China," Trump said, adding "I’m not going to play those cards."

He added that he was considering a trip to meet with his Chinese counterpart as the two countries continue to negotiate trade terms.

"At some point, probably during this year or shortly thereafter, we'll go to China," Trump said.

He told reporters that China has to give the United States magnets, or "we have to charge them 200% tariff or something," Reuters reports.