Trump Threatens Major Tariff Hike on China if Reelected, Risking Higher Prices
- Trump threatens to impose tariffs over 60% on Chinese goods if re-elected
- Previously put 25% tariffs on $50B of Chinese goods in 2018, leading to tit-for-tat tariffs
- Biden administration has mostly left Trump tariffs in place
- Existing tariffs have raised US consumer costs by $51B per year
- Nikki Haley criticized Trump tariff plans, said they would raise household expenses by $2,600 per year
