Further Tariffs on China: In a recent interview with Fox News, former US president Donald Trump declared his intention to impose additional tariffs on Chinese goods if he secures victory in the upcoming US presidential election. Trump suggested that these tariffs could potentially exceed 60%. Despite facing various criminal charges, including allegations of attempting to overturn the 2020 election results, Trump emphasized the need for such tariffs, citing China’s alleged unfair trading practices and intellectual property theft.
As the frontrunner for the Republican party, Trump expressed a desire for amicable relations with China but insisted on addressing what he perceives as the country taking advantage of the United States. Throughout his presidency, Trump initiated a contentious trade war between the world’s two largest economies by imposing tariffs on hundreds of billions of dollars’ worth of Chinese goods. The trade tensions began in 2018 and expanded to include a wide range of products, from seafood to chemicals.
China responded to the tariffs with its own levies on imports from the US, such as soybeans, wheat, and poultry. Despite the change in leadership, President Joe Biden’s administration has mostly retained these tariffs, despite criticism that they contribute to rising prices and diminish US competitiveness. The United States has been China’s largest export market for over two decades.
Interestingly, the idea of reducing economic ties between the US and China is gaining traction among both Republican and Democrat lawmakers. A recent House committee report recommended higher tariffs on imports from China and proposed restrictions on Chinese investments in the US. If Trump’s threat materializes, it could have widespread implications not only for the US and China but also for the global economy, including potential repercussions for the UK, given its interconnectedness with the international trade landscape.”
