Former U.S. President Donald Trump announced that he would impose tariffs on China again if he wins the upcoming presidential election in November. In an interview broadcast on Fox News on Sunday, he stated, "We have to do it... I mean, look, the stock market almost collapsed...".
In response to a question about a report suggesting Trump is contemplating a 60% tariff on Chinese goods if elected, the former president said, "No, I would say it might be (the tariffs) more than that." Trump imposed tariffs on hundreds of billions of dollars worth of Chinese goods in 2018 and 2019 amid a bitter trade war between the world's two largest economies.
The Biden administration has maintained the tariffs and added new restrictions prohibiting the export of advanced semiconductors and the equipment needed to manufacture them due to security concerns. The U.S. Trade Representative is reviewing the tariffs.
Trump dismissed the idea that he would engage in another trade war with China. In the interview recorded last week, he said, "This is not a trade war. I did a great job with China on everything." He added, "I want China to do great, I want that. And I really like President Xi. He was a good friend to me during my tenure."
