Trump targets up to $60 billion in Chinese imports with new tariffs

President Donald Trump announced Thursday his plans for tariffs on up to $60 billion annually in Chinese imports.
3:00 | 03/22/18

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Transcript for Trump targets up to $60 billion in Chinese imports with new tariffs
We have one particular problem and I view them as a friend I have tremendous respect. For president she. Have a great relationship to helping us a lot. In North Korea. And that's China. But we have a trade deficit. Depending on the way you calculate. Of 504. Billion dollars now some people would say it's really. 375. Billion dollars. Many different ways of looking that in but any way you look at it it is. The largest deficit of any country. In the history of our world. In particular with China we're gonna be doing a section. 301 trade action. It could be about sixty. Billion dollars. But. That's really just a fraction of what we're talking about. I've. Been speaking with the highest Chinese representatives including the president. And I've asked them to reduce the trade deficit immediately by 100 billion dollars. A lot. So that would be anywhere from 25%. Depending on the way you figure. Two may be something even more than that but. We have to do that the word that I want to uses reciprocal. When they charge. 25%. For a car to go in. And we charged 2% for their car to come into the United States that's not. That's how China rebuilt. Itself the tremendous money that we've paid since the founding of the World Trade Organization. Which is actually been a disaster for us. This first of many. Number one but. It is the first of many.

This transcript has been automatically generated and may not be 100% accurate.

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