President Donald Trump has just announced his intention to implement a 10 percent tariff by February 1st on Chinese imports in response to China’s involvement in fentanyl trafficking.
At a press conference at the White House, Trump stated, “We’re talking about a tariff of 10% on China, based on the fact that they’re sending fentanyl to Mexico and Canada.”
When questioned about a conversation he had with Chinese President Xi Jinping before his inauguration, Trump mentioned that their discussion did not focus heavily on tariffs, but he emphasized that Jinping is aware of his stance regarding trade.
Throughout his campaign, Trump had proposed the possibility of imposing tariffs as high as 60 percent on Chinese goods.
Additionally, he recently announced on Truth Social his plan to establish an “External Revenue Service” aimed at collecting tariffs, duties, and other revenues from foreign sources.
