Trump vows ‘Major’ Tariff Increase in Response to China‘s Trade Actions
WASHINGTON – Former President Donald Trump is threatening a notable increase in tariffs on Chinese products in response to recent trade actions by China, which he characterized as “hostile” and ”a surprise.” Trump stated the move would “clog” global markets and disproportionately impact China.
The escalating tensions stem from China’s actions regarding the control of key materials – specifically, elements where they’ve established a “monopoly position,” beginning with magnets and other components.Trump asserted the United States possesses even stronger and more extensive monopolies but has, until now, refrained from utilizing them. He indicated the situation arose “suddenly,” despite a previously positive six-month relationship with China.
Trump stated he had not spoken with Chinese President Xi Jinping regarding the issue, deeming it needless. A planned meeting with President Xi at the APEC meeting in South Korea in two weeks is now in doubt. He questioned the timing of China’s actions, noting they occurred as peace was being established in the Middle East.
“For every element they can monopolize, we have two,” Trump said. He is now considering “many other countermeasures” alongside a ”major increase in tariffs on Chinese products coming into the United States.” He believes the ultimate outcome will be ”a very good thing for the United states, even though it is potentially painful.”
Other world leaders, “extremely angry” about the ”great trade hostility,” have contacted his team, according to Trump. He reiterated his long-held belief that China was “lurking” and that his assessment has been “proven right.”
