Grassley: Trump Should Be Careful Renegotiating With China

President Donald Trump should be careful in renegotiating trade with China, Sen. Chuck Grassley, R-Iowa, said Monday.

"The extent to which the president wants us to get a better deal from China, from any other country, I think we ought to welcome it, but I think it ought to be done very cautiously," Grassley said Monday on Fox Business' "Mornings With Maria."

Fair trade is vital in areas that depend on agriculture, such as his home state of Iowa.

"The first challenge to any action we take on trade, they tend to go after agricultural products. So, since we produce one-third more food than we consume domestically, I think we have to have a good trading environment for prosperity in agriculture," he added.

Regarding tariffs, Grassley said that he wanted a "level playing field" with China, and "countervailing duties would do that." The possibility of a trade war is a concern.

China must also be held to account over stealing U.S. intellectual property, he said.

A number of large U.S. retailers on Monday, including Walmart and Target, urged Trump against placing tariffs on China.

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