Trump Plans to Restart Trade War with China, Threatens Tariffs Exceeding 60%
In a recent interview on Fox News’ “Sunday Morning Futures,” former President Donald Trump declared his intention to restart the trade war with China if successfully re-elected. He stated that tariffs on Chinese goods may exceed 60%, a move that could have significant implications for global trade relations.
The Washington Post recently reported that Trump is considering imposing a uniform 60% tariff on all Chinese imports, signaling a potential escalation in the already tense trade relations between the two countries.
When asked about the incident during the interview, Trump indicated that the tariffs could even surpass the reported 60% figure. “No, I would say it’s probably more than that. We have to do this,” he told host Maria Bartiromo.
This announcement comes after Trump imposed 25% tariffs on $50 billion worth of Chinese goods in 2018, a move that initiated a tit-for-tat tariff war between the US and China. The conflict continued until the US and China reached a deal in 2020 under the current Joe Biden administration, leaving the issue of tariffs largely untouched.
A 2022 report from the American Action Forum, a right-leaning think tank, estimated that these tariffs increase costs for American consumers by about $51 billion annually, highlighting the potential economic impact of Trump’s proposed trade policies.
If re-elected, Trump’s aggressive stance on trade with China could have far-reaching consequences for global trade and the overall economic landscape. It remains to be seen how the international community and potential future administrations would respond to such a move.