Trump Threatens to Increase Tariffs on Chinese Goods to Over 60% if Re-Elected

Former US President Donald Trump has declared his intention to implement higher tariffs on Chinese goods, exceeding 60%, should he secure victory in the upcoming US election.

Speaking in an interview with Fox News, Trump emphasized the necessity of such measures, citing concerns about China's alleged unfair trading practices and intellectual property theft.

As the leading contender for the Republican party, Trump faces multiple criminal charges, including allegations of attempting to overturn the 2020 election results, which he vehemently denies.

Despite expressing a desire for amicable relations with China, Trump asserted that the country has taken advantage of the United States for too long.

During his presidency, Trump initiated a contentious trade war with China by imposing tariffs on hundreds of billions of dollars worth of Chinese goods.

The levies, which began in 2018, targeted various sectors from seafood to chemicals. In response, Beijing retaliated with tariffs on US imports, including soybeans, wheat, and poultry.

Trump's recent statements surpass his previous suggestion of a universal 10% tariff on all imports into the US. The Biden administration has maintained many of the tariffs, facing criticism for their impact on prices and competitiveness.

Treasury Secretary Janet Yellen cautioned that Trump's proposed tariff increase would escalate costs for American businesses and consumers across a range of goods.

The US has been China's largest export market for over two decades, but there is a growing bipartisan consensus in favor of reducing economic ties with China.

A House committee report recommended higher tariffs on Chinese imports and restrictions on Chinese investments in the US, reflecting a shift in sentiment among both Republican and Democrat lawmakers.