Former US President and Republican presidential forerunner Donald Trump expressed his intentions before his advisors to impose 60% flat tariffs on Chinese imports after he comes to power again.
Donald Trump has been a clear forerunner to secure the Republican primary, with all-out efforts to secure the presidency once again despite his legal troubles.
However, experts warned that if such would be a case regarding tariffs, then this would have adverse impacts on the global economy. This would also have impacts far worse than the trade war that the former president had started with China in 2018.
Trump discussed with advisers “the possibility of imposing a flat 60% tariff on all Chinese imports.”
As Trump is inching closer to assuming the US presidency, he has told his supporters that he would reverse China’s status as a most favoured nation for trade.
Those countries involved in trade with the US, all enjoy the status of MFN. For those who do not fall under this category, the US can impose tariffs on their imported goods.
The four-time indicted former president claimed that currently, the US has the world’s lowest import levies, as this money is a crucial support for the country’s budget, criticising President Joe Biden, and vowing tougher position against China.
The 77-year-old, during campaigns, also said to slash corporate taxes to increase earnings.
