Donald Trump announces tariffs on China
Donald Trump (photo: Getty Images)
US President Donald Trump has warned that additional tariffs could be imposed as early as next week, this time on China, rather than just Mexico and Canada, according to CNN and Associated Press.
Speaking at a press conference in the Oval Office on Tuesday, Trump explained that the 25% tariffs he plans to impose on Canada and Mexico starting February 1 have nothing to do with renegotiating the existing trade agreement between the three countries. For him, the tariffs are solely aimed at stopping unauthorized immigration and the flow of illegal drugs.
In the same speech, he also threatened China, stating that he is considering a 10% tariff on all Chinese goods, effective from February 1. However, just the day before, at a similar conference, he had shifted away from the China topic, pointing out that former US President Joe Biden left in place the large tariffs that Trump had imposed during his first term.
CNN reports that it's unclear what prompted Trump’s quick shift in policy, although during his election campaign, he had promised to impose a 60% tariff on all goods imported from China.
Trump also explained during the press conference that the US receives too much fentanyl from China via Mexico and Canada. The tariff threat could pressure China to intensify measures against the deadly drug.
Additionally, the US president informed that he did not have long discussions on the issue with Chinese President Xi Jinping when they spoke last week.
"We didn’t talk too much about tariffs other than he knows where I stand," Trump said.
Canada's punch back
It was reported yesterday that Canadian Prime Minister Justin Trudeau stated that his country is prepared to push back if the Trump administration imposes tariffs on Canadian imports.
