Trump Discusses Impact of Tariffs on Consumers and Ongoing Trade War

In a recent interview, President Donald Trump acknowledged the financial strain that his administration's current tariffs on Chinese goods are putting on American consumers. However, he remained steadfast in continuing the trade conflict with China, which has escalated during his second term in office. During an appearance on Fox Business Network's Mornings with Maria, host Maria Bartiromo questioned Trump about his threats to impose an additional 100 percent tariff on Chinese imports. This potential increase comes in response to China's recent announcement of new export restrictions on rare earth metals, essential for various tech products. Bartolomo asked, “If you put a 100 percent tariff on top of what is in place, a 157 percent tariff on China, can that stand? What is that doing to the economy?” In his response, Trump stated that the current 157 percent tax on imports from China is “not sustainable,” but acknowledged that it is “where the number is” for now. President Trump appears to have no desire to call off his planned 157 percent tax on Chinese imports despite admitting that it is ‘not sustainable.’ (Getty Images) Trump continued, “It is probably, could stand — but they forced me to do that.” He then shifted to express admiration for Chinese President Xi Jinping, describing him as an “amazing man” and a “great leader,” whose life story he believes would make an interesting film. The President maintained that the U.S. needs to secure a fair trade agreement with China, labeling the situation as complex and stating, “China ripped us off from day one.” He attributed some responsibility for the trade issues to former President Richard Nixon, whose 1972 visit to China he believes opened the door to detrimental trade practices. Trump remarked, “Richard Nixon allowed this to happen, opened China — I said, ‘Is that good or bad? You tell me,’” further emphasizing that Nixon had unleashed a formidable competitor by easing U.S.-China relations. The additional 100 percent tariffs are slated to take effect on November 1, subject to modifications based on China's actions regarding their export controls on rare earth minerals, according to U.S. Trade Representative Jameson Greer in a statement to CNBC.