Former US President Donald Trump has said that if re-elected, he would impose additional tariffs on China, possibly exceeding 60%.
President Trump responded to a Washington Post report that he was considering imposing a steep 60% tariff on all Chinese imports if he became president, saying in an interview with Fox News on Sunday, “No. , and probably more.”
Trump is the front-runner for the Republican nomination in this year’s US presidential election. In 2018 and 2019, the administration imposed tariffs of up to 25% on hundreds of billions worth of Chinese goods. China also retaliated by imposing additional tariffs on some U.S. products.
President Trump said in an interview that he is not planning another trade war.
“It’s not a trade war. I’ve had success with everything with China. China was coming in and trying to destroy our steel industry, so I imposed tariffs, significant tariffs,” Trump said. the president said. “And they stopped it.”
In 2018, the Trump administration imposed a 25% tariff on steel imports, including imports from China, and a 10% tariff on aluminum, citing national security risks and the need to protect domestic manufacturers from global metal overproduction. % tariff was imposed.
“I have steel people. Every time they see me, they start crying and they hug me and they say, ‘You saved our industry,’ and now they… I’m choosing to let that go.”
US President Joe Biden has kept tariffs on Chinese goods at an average of 19.3%. The Office of the United States Trade Representative is reviewing tariffs.
Why does China want the U.S. to stay away from its 100-year-old trade rules on imports worth less than $800?
Why does China want the U.S. to stay away from its 100-year-old trade rules on imports worth less than $800?
Trade remains a point of friction between the two countries, but the Biden administration has also stepped up efforts to move U.S. supply chains out of China.
According to Chinese customs data, China’s exports to the United States in 2023 decreased by 13.1% from the previous year, the largest decline in about 30 years.
According to US data, China will lose its top spot as the top exporter to the US for the first time in 17 years.
According to the U.S. International Trade Commission, from January to November 2023, the value of U.S. imports for consumption from China (the value of imports that physically passed through customs) was $388 billion, more than even Mexico and Canada. Ta.
The commission’s 2023 report found that U.S. importers bore almost the entire cost of Trump-era tariffs, as import prices rose at the same rate as the tariffs.
Chinese Foreign Ministry spokesperson Wang Wenbin on Monday declined to comment on reports about President Trump’s 60% tariff plan, saying, “We do not comment on unconfirmed information.”
“I would like to emphasize that the economic and trade relations between China and the United States are mutually beneficial and win-win in nature,” Wang said.
“Maintaining the healthy and steady growth of China-US economic and trade relations serves the fundamental interests of both countries and their peoples, and will lead to global economic growth,” he said.