Republican candidate Trump says U.S. needs to impose tariffs on China By Reuters

© Reuters. FILE PHOTO: Republican presidential candidate and former U.S. President Donald Trump holds a campaign rally ahead of the Republican caucus in Las Vegas, Nevada, U.S., January 27, 2024. REUTERS/Ronda Churchill

WASHINGTON (Reuters) -Republican presidential candidate Donald Trump said he would impose tariffs on China again if he is elected in November and they could exceed 60 percent.

“We have to do it,” Trump said in an interview aired on Sunday with the Fox News program “Sunday Morning Futures.” “I mean, look, the stock market almost crashed when it was announced.”

Asked about a report that he is considering imposing 60 percent tariffs on Chinese goods if elected, Trump said, “No, I would say maybe it’s going to be more than that.”

Trump is the frontrunner for his party’s nomination to challenge Democratic President Joe Biden in the Nov. 5 U.S. election.

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 retained the tariffs and added new restrictions prohibiting the export of advanced semiconductors and the equipment to make them, citing security concerns.

The U.S. trade representative is conducting a review of the tariffs.

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

“It’s not a trade war. I did great with China with everything,” Trump said in the interview, taped last week. 

“I want China to do great, I do. And I like President Xi a lot. He was a very good friend of mine during my term.”

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