Palm Beach, Florida - Former President Donald Trump has unveiled a new trade policy that he plans to implement if reelected, mostly focusing on belligerence towards China.

On Monday, Trump shared a video on his website where he laid out his plans, blaming Joe Biden for pushing a "pro-China globalist agenda" that has "ripped the industrial heart out of our country."

"Very simply, the Biden agenda taxes America to build up China," Trump said, later adding, "My agenda will tax China to build up America."

If reelected in 2024, Trump says he plans to implement a new system that "rewards domestic production, and taxes foreign companies and those who export American jobs."

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The system will include universal tariffs placed on most foreign products, stating "taxes on American producers will go down, and go down very substantially; that means a lot of jobs coming in."

During his presidency, he claimed repeatedly that the imposed tariffs passed directly to the US government, but it was pointed out that tariffs are paid by companies, who then load the cost onto consumers. Some economists have estimated that his trade war costs US companies and consumers roughly $3 billion per month.

Trump and his family, while continuously painting China as evil, have also benefited from business ties they have with the country. According to AP, China granted 18 trademarks to companies linked to Trump and his daughter Ivanka.

Despite this, Trump insists his new plan will "completely eliminate dependence on China in all critical areas."