Trump warns of imposing tariffs of over 60% on Chinese goods

“We have to do it,” Mr. Trump said in an interview aired Sunday with Fox News’ Sunday Morning Futures.

Asked about reports that he was considering imposing a 60% tariff on Chinese goods if elected, Mr Trump said: “No, I would say it could be higher than that.”

Trump said he would impose high tariffs on Chinese goods if necessary. Image 1 — Republican presidential candidate and former US President Donald Trump. Photo: Reuters

Mr 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 is keeping tariffs in place and adding new restrictions banning the export of advanced semiconductors and the equipment used to make them, citing security concerns.

Mr Trump dismissed the notion that he would start another trade war with China.

Many investors on Wall Street were also unsettled by his comments. According to Deutsche Bank, the US stock market has “evaporated” more than $ 5,000 billion because of the trade war.

The American Action Forum also said that the discord between the world's two largest economies has cost the American people about $195 billion since 2018. In addition, about 245,000 people have lost their jobs due to this fierce economic war.

“This is not a trade war. I’ve done very well with China in every way,” Trump said in a taped interview last week. “I want China to do well. And I like President Xi very much. He’s been a very good friend of mine during my tenure.”

Mai Van (according to Reuters)

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