Donald Trump plans to restart a trade war with China if elected to a second term, saying Sunday he would impose tariffs on Chinese goods that could exceed 60%.
The Washington Post recently reported Trump is considering a flat 60% tariff against all Chinese imports.
On Sunday, Trump was asked about that on Fox News’ “Sunday Morning Futures.”
“No, I would say maybe it’s going to be more than that,” Trump told host Maria Bartiromo. “We have to do it.”
Also see: Trump warns ‘there’ll probably be some changes made’ to RNC leadership
Trump slapped 25% tariffs on $50 billion worth of Chinese goods in 2018, setting off a round of tit-for-tat tariffs before the U.S. and China reached an agreement in 2020, and the Biden administration has mostly left the tariffs untouched.
Those tariffs have raised American consumer costs by about $51 billion a year, according to a 2022 report by the right-leaning think tank American Action Forum.
Republican presidential rival Nikki Haley blasted one of Trump’s tariff plans last month, saying “what Donald Trump’s about to do to you is going to raise every household’s expenses by $2,600 a year,” in reference to a Trump proposal for a flat 10% on all imports to the U.S.
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This story originally appeared on Marketwatch
