The team of newly elected US President Donald Trump intends to raise import tariffs every month to put pressure on US trading partners, Bloomberg reported, citing its sources.
According to his information, Trump's team wants to increase import tariffs by 2-5 percentage points every month. This approach would help put pressure on trading partners while avoiding rising inflation in the US. Treasury Secretary nominee Scott Besant, National Economic Council director Kevin Hassett, and future Council of Economic Advisers chief Stephen Miran are working on developing tariff measures, the agency writes.
US President-elect Donald Trump in his election manifesto proposed imposing 60 percent tariffs on imports from China. During his first term as president (2017-2021), he actually started a trade war with China due to a strong trade imbalance in favor of the PRC. At that time, the Trump administration pursued a policy of comprehensively tightening pressure on Beijing and comprehensively containing the PRC. Washington imposed tariffs on Chinese imports worth USD 370 billion, but this did not eliminate the imbalance. Trump also significantly increased pressure on Chinese technology companies, in particular Huawei.