Tariffs are on the horizon: Trump considers a 10% tariff on imports from China
WASHINGTON – President Donald Trump has announced that he is contemplating implementing a 10% tariff on Chinese imports, intensifying pressure on the U.S. rival and urging China to take stronger actions against the production and distribution of fentanyl.
On his inauguration day, Trump mentioned that he is also targeting February 1 for the planned 25% tariffs on imports from Canada and Mexico. During a press conference at the White House on Tuesday evening, he revealed that he may also introduce tariffs on Chinese goods.
“We’re considering a 10% tariff on China due to their shipments of fentanyl to Mexico and Canada,” Trump stated from the Roosevelt Room. “February 1 is likely the date we’re eyeing.”
The proposed tariff for China is lower than the 60% rate he had previously threatened but aligns with the 10% tax he indicated as president-elect. This discussion followed a conversation Trump had with Chinese President Xi Jinping shortly before his inauguration, where they talked about fentanyl, TikTok, and trade issues.
After a recent announcement about AI infrastructure, Trump mentioned that he had met with parents who lost their children to fentanyl overdoses.
“And I had that conversation with President Xi the other day. I made it clear: ‘We don’t want that stuff in our country. We need to put a stop to it,'” Trump remarked. “I would have halted it.”
He noted that during their call, he and Xi also touched upon the ongoing conflict between Russia and Ukraine.
The Chinese embassy in Washington has not yet provided a response to this matter.
During his first term, Trump imposed tariffs on China, which former President Joe Biden evaluated and chose to maintain while making selective increases.
The largest trade deficit for the United States in 2023 was with China, amounting to $279.4 billion, as reported by the U.S. Bureau of Economic Analysis.
Experts warn that these tariffs could lead to higher prices for consumers, provoke retaliatory measures, and may not achieve the anticipated results that Trump hopes for. Nevertheless, the incoming president has expressed his intention to leverage tariffs as a strategy to encourage other nations to alter their practices.
