Mr Rushdie, winner of the Hans Christian Andersen prize in 2013, was participating in a discussion with Colombian author Juan Gabriel Vasquez in the 13th edition of Hay Festival in Cartagena on Saturday, Efe news agency reported.
The author, born 70 years ago in Mumbai, said his book knew what was going to happen but not him due to the novel's own wisdom, adding that it showed how a piece of art knows more than the artist.
Mr Rushdie clarified that "The Golden House" is not a book centered on Mr Trump but on the polarisation in the US.
He compared writing the book to a bullfight, where the bullfighter runs the risk of being gored by the animal and suffering a bloody injury.
He said it was as exciting to write a book as escaping the bull very closely. If one did badly the book would become irrelevant like yesterday's newspaper, but if lucky it could capture that moment in history.
He said in "Hundred years of Solitude" by Colombian Nobel laureate Gabriel Garcia Marquez, the writer's description of the society was very similar to his native India.
He cited similarities between the Indian and Colombian societies such as a huge gap between the rich and the poor, the influence of religion and a powerful colonial past.
Mr Rushdie, whose novel "Midnight's Children", was chosen by the people as the best winner of the Booker prize in its 40-year history, said he hated when things written in his books become reality, adding he has no wish to be a prophet.