Trump pledges to increase tariffs on products from China if elected in November


"The Republican presidential candidate, Donald Trump, said he would re-impose tariffs on China if elected in November, and they could exceed 60%.

"We have to do it," Trump said in an interview on Sunday with the Fox News program "Sunday Morning Futures." "I mean, look, the stock market almost crashed when it was announced that I won the Iowa primaries with a record. And then, when I won in New Hampshire, the stock market dropped like a rock," he said, referring to the Iowa caucuses and the New Hampshire primaries in January.

Regarding a report that says he is considering imposing 60% tariffs on Chinese products if elected, Trump said, "No, I would say it might be more than that."

Trump is the favorite to be the candidate for his party and challenge Democratic President Joe Biden in the U.S. elections on November 5.

The former president imposed tariffs on Chinese products worth hundreds of billions of dollars in 2018 and 2019, amid a bitter trade war between the world's two largest economies.

The Biden administration maintained the tariffs and added new restrictions that prohibit the export of advanced semiconductors and the equipment to manufacture them, citing security concerns.

The U.S. Trade Representative is conducting a review of the tariffs.

Trump rejected the idea that he would start another trade war with China.

"It's not a trade war. I did great with China on everything," Trump said in the interview, recorded last week.

"I want China to do great, really. And I really like President Xi. He was a very good friend of mine during my term," he said."