Trump considers 10% Tariff on Chinese imports starting in February
U.S. President Donald Trump announced he is considering imposing a 10% tariff on Chinese imports as early as February 1, citing concerns over fentanyl shipments to Mexico and Canada.
Trump also threatened to impose a 25% import tax on goods from Mexico and Canada, accusing both countries of allowing undocumented migrants and drugs to enter the U.S.
In a Washington press conference, Trump criticized the European Union and vowed to impose tariffs on its goods, calling the EU “very, very bad” to the U.S. and stating tariffs are the only way to ensure fairness in trade.
Shortly after being sworn in, Trump directed federal agencies to review existing trade deals and identify unfair practices by U.S. trading partners, marking a strong stance on trade reform.
In response, Canadian Prime Minister Justin Trudeau promised to fight back if tariffs are imposed on Canada, with Ottawa preparing counter-tariffs reportedly worth billions of dollars.
Trudeau responded to Trump’s threats, warning that a 25% tariff on Canadian imports would lead to higher prices for U.S. consumers on products like oil, gas, steel, aluminum, and electricity.
Trump also warned Europe that failure to purchase more oil and gas from the U.S. could result in increased tariffs on European goods, a stance he had threatened before officially taking office.
On assuming office, Trump criticized China as a “trade abuser” and accused the European Union of treating the U.S. “very badly,” signaling that higher import tariffs for the EU are imminent.
In a bold move, Trump invited Chinese President Xi Jinping to his inauguration, though Xi did not attend. Instead, Chinese Vice President Han Zheng participated and expressed hope for deeper U.S.-China business ties to stabilize bilateral relations.
Meanwhile, Chinese officials, including Vice Premier Ding Xuexiang, advocated for “win-win solutions to trade disputes,” avoiding direct criticism of the U.S.
While Trump believes tariffs can boost economic growth, protect jobs, and increase tax revenue, many economists warn they could lead to higher consumer prices in the U.S. and provoke retaliatory measures that harm American companies.
The potential for retaliatory measures by affected countries could have significant implications for global trade relations and economic stability.
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