Trade Cases

Second Trump term could mean 60% tariff on Chinese imports: Report

Written by Ethan Bernard

February 5, 2024

Former President Donald Trump discussed, if re-elected, placing a tariff of 60% or more on all Chinese imports in an interview with Fox News on Sunday.

Talk of the possible 60% tariff was first reported by The Washington Post on Jan. 27.

“I would say maybe it’s going to be more than that,” Trump told Maria Bartiromo on Fox’s Sunday Morning Futures regarding a possible 60% tariff.

Note that the 60% figure Trump floated for tariffs on goods from China is significantly higher than the 10% tariff he has suggested for imports of goods from all other regions.

Recall that Trump shocked the steel market with tariffs when he was president. Citing national security concerns, he in 2018 imposed Section 232 tariffs of 25% on imported steel and tariffs of 10% on foreign aluminum.

Exceptions were later made for certain countries, including Canada, Mexico, and the EU region, among others. It has been widely speculated that a second Trump term could result in a more protectionist stance for US trade policy.

Commenting on Trump’s statement, Kevin Dempsey, president and CEO of the American Iron and Steel Institute (AISI), told SMU, “As the largest contributor to the global steel overcapacity problem, China continues to engage in widespread unfair trade practices that continue to harm American steel producers.”

Dempsey added: “AISI continues to work with Congress and the administration on policy measures to address these trade-distorting actions by the Chinese government, and will remain engaged to ensure the continued competitiveness of the American steel industry.”

Ethan Bernard

Ethan Bernard is a reporter and editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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