Trump plans to impose a 10% tariff on Chinese goods on February 1
Trump’s senior adviser on trade and manufacturing, Peter Navarro, discusses the war on TikTok and ‘prosperity’ for the United States on ‘The Claman Countdown’.
President Donald Trump has announced plans to impose a 10 percent tariff on Chinese imports on February 1 for the country’s role in fentanyl trafficking.
“We’re talking about a 10% tariff on China based on the export of fentanyl to Mexico and Canada,” Trump told reporters at the White House on Tuesday. “Maybe February 1 is the date we’re looking at.”
When asked about the conversation With Chinese President Xi Jinping Before his inauguration this week, Trump added, “We haven’t talked much about tariffs other than who knows where I stand.”
During his election campaign, Trump threatened to impose tariffs of up to 60 percent on Chinese imports. He recently promised on Truth Social to create a “Foreign Revenue Service” to “collect our tariffs, duties and all revenue from foreign sources.”
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Trump delivered his inaugural address after being sworn in as the 47th President of the United States on January 20 in Washington, DC. (Chip Somodevilla/Pool/AFP via Getty Images/Getty Images)
Trump and his allies have argued that such a plan would bolster U.S. manufacturing, making it harder for adversaries like China to “export their way out of the current economic crisis,” Treasury Secretary nominee Scott Bessant told senators last week.
However, Democrats and opponents argue that the tariffs will only be worth it. Transferred to US users.
Rep. Susan DelBene, D-Wash., recently said, “Expanded tariffs would not only raise costs at home and send our economy into recession, but could also be highly retaliatory, hurting American workers, farmers and businesses,” in a statement.
“We always believe there is no winner in a trade war or a tariff war,” Chinese Foreign Ministry spokesman Mao Ning told reporters at a press conference on Wednesday. According to Reuters.
Trump said in February that he would impose a 25 percent tariff on all goods from Canada and Mexico.
Trump announced the largest AI infrastructure project ‘in history’, involving SoftBank, OpenAI and Oracle.
Vice President JD Vance and Trump react in the Rotunda at the US Capitol on Trump’s presidential inauguration day. (Kevin Lamarque/Pool/AFP via Getty Images/Getty Images)
In late November, Trump wrote on his social media account that he would implement such tariffs in his first executive order on January 20, and that the tariffs would remain “as long as drugs, especially fentanyl and all, are not illegal. Foreigners stop this invasion of our country!”
Those promised tariffs have yet to take effect, but on Monday Trump signed an executive order titled “America First Trade Policy.”
“The Secretary of Commerce, in consultation with the Secretary of the Treasury and the United States Trade Representative, shall examine the causes of our nation’s large and persistent annual merchandise trade deficit, as well as the harm and danger to the economy and national security. Policies will recommend appropriate measures,” the order said.
Trump says he knows where Chinese President Xi Jinping stands 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, shall examine the feasibility of establishing and selecting the best methods to design, construct, and implement a foreign revenue service to collect tariffs, duties, and other foreign trade-related revenues,” he said.
Elizabeth Elkind of Fox News and Daniela Genovese of Fox Business contributed to this report.
