Trump Teases 60% Tariff On Chinese Imports In Potential Return To White House, Voices Concerns Over Beijing Interfering In 2024 Election

Donald Trump has hinted at the possibility of imposing a tariff exceeding 60% on all Chinese imports if he secures a return to the presidency.

What Happened: Trump’s comments come amidst rising economic and other tensions between the U.S. and China. During his previous term, Trump had imposed a 25% tariff on $50 billion worth of Chinese goods in June 2018, which led to a retaliatory tariff from Beijing, reported CNN on Sunday.

Trump also voiced concerns about China’s potential interference in the 2024 presidential election. Despite Chinese leader Xi Jinping‘s assurance to President Joe Biden that China would not interfere, FBI Director Christopher Wray recently warned about the threat of Chinese hackers.

"I think they will, and they won't be interfering on my behalf. We should go same-day voting, paper ballots, voter ID and no mail-in ballots," Trump said, according to the report.

Trump refrained from commenting on whether he would intervene if China attempted to take over Taiwan, stating it could impact his negotiating ability with China. The US is obligated under the Taiwan Relations Act to provide Taiwan with the means to defend itself, a move Beijing considers as interference in its internal affairs.

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Why It Matters: Trump’s tariff threats are not new. In June 2023, he vowed to impose a 100% tariff on Chinese goods if Xi Jinping did not shut down China's spy base in Cuba within 48 hours of his potential return to presidency, as per a Benzinga report.

Trump’s tariff proposals have been criticized by fellow Republicans, including former South Carolina Governor and presidential candidate Nikki Haley, who warned that such tariffs could increase American households’ expenses by $2,600 a year, according to a Benzinga article from January 2024.

Trump’s potential return to the White House has also been linked to turbulence in China’s stock markets, as he suggested in a Benzinga report from January 2024.

His tariff proposals have been widely criticized, with economist Paul Krugman calling them a “bad idea” in an August 2023 Benzinga article. The noble laureate called the ex-president’s idea “stupid” and said it would spell the end of GATT, or General Agreement on Tariffs and Trade, a set of trade agreements centered around abolishing quotas and reducing tariff duties among the signatory nations.

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