Trump Considers Tariffs on Chinese Imports

Investing.com — U.S. President Donald Trump announced on Tuesday that he is considering imposing 10% tariffs on Chinese imports effective February 1. He suggested that the tariffs are a response to concerns regarding the flow of illicit drugs, particularly fentanyl, from China to Mexico and Canada, and into the United States.

In addition to the potential tariffs on Chinese goods, Trump mentioned that he might impose around 25% tariffs on imports from Mexico and Canada for similar reasons. He also brought up the possibility of tariffs against the European Union, citing trade imbalances with the U.S.

Trump’s campaign was marked by promises of significant tariffs to enhance U.S. trade dominance, including threats of 60% tariffs on China and even up to 100% on goods from Mexico and Canada.

However, despite expectations, no tariffs were enacted through executive orders on his first day in office. The proposed 10% tariffs on China are notably lower than the rates he had pledged during his campaign.