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President Donald Trump announced plans on February 1 to impose a 10% tariff on imports from China over China’s role in fentanyl trafficking.
“We’re talking about imposing a 10% tariff on China based on the fact that China is sending fentanyl to Mexico and Canada,” Trump told reporters at the White House on Tuesday. “Maybe February 1st is the date we’re looking at.”
Asked about his conversation with Chinese President Xi Jinping ahead of this week’s inauguration, Trump added: “We didn’t really talk about tariffs, other than he knows where I stand.” Ta.
During his campaign, President Trump threatened to impose tariffs of up to 60% on products from China. He recently promised Truth Social that he would create an “External Revenue Service” to “collect customs duties, duties and all foreign revenues.”
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President Donald Trump was sworn in as the 47th President of the United States on Monday in Washington, D.C., and delivered his inaugural address. (Chip Somodevilla/Pool/AFP via Getty Images/Getty Images)
President Trump and his allies believe that, as Treasury Secretary nominee Scott Bessent told senators last week, such a plan would strengthen U.S. manufacturing, while at the same time helping adversaries like China “take advantage of the current economic downturn.” It has been argued that this will make it more difficult for exports to escape from the
But Democrats and opponents say the costs of the tariffs would simply be passed on to U.S. consumers.
Rep. Susan DelBene, D-Wash., recently said, “Broad tariffs would not only raise domestic costs and likely send the economy into recession, but would also lead to significant retaliation and harm American workers and farmers. “This is likely to cause damage to the company.” In a statement.
“We always believe that there are no winners in trade wars and tariff wars,” Chinese Foreign Ministry Spokesman Mao Ning said at a press conference on Wednesday, according to Reuters.
President Trump also said he would impose a 25% tariff on all goods from Canada and Mexico by February.
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Vice President J.D. Vance and President Trump react to President Trump’s Inauguration Day in the U.S. Capitol Rotunda in Washington, D.C., on Monday. (Kevin Lamarque/Pool/AFP via Getty Images/Getty Images)
In late November, President Trump wrote on his Truth Social account that one of his first executive orders would be to implement such tariffs on January 20th, and that the tariffs would be used to “cut drugs, especially fentanyl, and all illegal It will remain in effect until the act ceases to exist.” Stop aliens from invading our country! ”
These promised tariffs have not yet gone into effect, but President Trump signed an executive order on Monday titled “America First Trade Policy.”
“The Secretary of Commerce, in consultation with the Secretary of the Treasury and the Office of the United States Trade Representative, shall investigate the causes of our nation’s large and persistent annual goods trade deficit and the resulting economic and national security impacts and risks. “correct such deficits and recommend appropriate measures, such as additional global tariffs or other policies, to correct such deficits,” the order states.
President Trump said Chinese President Xi Jinping understands his position on tariffs. (Ton Molina/Bloomberg via Getty Images/Getty Images)
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“The Secretary of the Treasury, in consultation with the Secretary of Commerce and the Secretary of Homeland Security, will investigate and recommend possibilities to establish the best method for designing, constructing, and implementing the External Revenue Service (ERS) for collecting customs duties. “Customs duties and other foreign trade-related revenues.”
Fox News’ Elizabeth Elkind and FOX Business’ Daniella Genovese contributed to this report.
