Trump says he would impose more tariffs on Chinese goods if he wins election

Trump dismisses starting trade war with China

Republican presidential candidate Donald Trump said he would impose more tariffs on Chinese goods if he wins the presidential elections in November.

The tariff could exceed 60 per cent, said the former president in an interview with Fox News aired on Sunday.

"We have to do it," said Mr Trump, amid high economic and regional tensions between the US and China.

"I mean, look, the stock market almost crashed when it was announced that I won the Iowa primary (sic) in a record. And then when I won New Hampshire, the stock market went down like crazy," he said, referring to the Iowa caucus and New Hampshire primary nominating contests in January.

Shares of Digital World Acquisition, the blank check firm set to take former president Trump’s social media platform public, rose following his victory in the first Republican contest in Iowa for 2024 presidential race, Reuters reported.

Asked about a report that he is considering imposing 60 per cent tariffs on Chinese goods if elected, Trump said, "No, I would say maybe it’s going to be more than that".

A frontrunner for his party’s nomination to challenge Democratic president Joe Biden in the 5 November election, he imposed tariffs of more than 25 per cent on  $50bn of Chinese goods in 2018 amid a bitter trade war with the Asian giant, reported CNN. Beijing also responded by levying heavy tariffs on US imports including soybeans, wheat and poultry, according to BBC News.

The Biden administration retained the tariffs and added new restrictions prohibiting the export of advanced semiconductors and the equipment to make them, citing security concerns.

The US trade representative is conducting a review of the tariffs.

Mr Trump, however dismissed that he would begin another trade war with China. "It’s not a trade war. I did great with China with everything," he insisted. "I want China to do great, I do. And I like President Xi a lot. He was a very good friend of mine during my term."

Additional reporting by agencies