Trump says that the US would raise its tariffs on China by 10%

In the most recent round of the US president's increasingly intense trade disputes, Donald Trump announced his intention to impose a fresh 10% tariff on Chinese imports.

Following the implementation of a Trump tariff decision earlier this month, Chinese imports are already subject to border charges of at least 10%.
Additionally, Trump announced on Thursday that he planned to proceed with the 25% tariffs he had threatened to impose on goods from Canada and Mexico, which are scheduled to take effect on March 4.

His remarks were made while Canadian and Mexican officials were in Washington for talks to begin that plan.

Trump had threatened to impose 25% tariffs on Canada and Mexico on February 4th unless the two countries strengthened border security.
After the two nations agreed to boost border financing and discuss other ways to combat drug trafficking, he abruptly put a one-month halt to the measures.
Trump expressed his opinion that not enough has been done to stop the influx of fentanyl into the United States on social media on Thursday.
He stated that "a large percentage" of the narcotics were manufactured in China and that "drugs are still pouring into our Country from Mexico and Canada at very high and unacceptable levels."

At a press conference held from Mexico's National Palace, President Claudia Sheinbaum responded, "As we know, [Trump] has his way of communicating."
She continued: "I hope we can reach an agreement and on 4 March we can announce something else."
In addition, Canadian Prime Minister Justin Trudeau stated that his nation was making every effort to come to an agreement, cautioning that a "immediate and extremely strong response" would be triggered if the US imposed tariffs.

Given how intimately the North American economies are intertwined following decades of free trade, Trump's threats against Mexico and Canada have caused widespread concern.
In the past, the leaders of the two nations have threatened to slap retaliation tariffs on the United States should the White House proceed with its plans.

Tariffs are a type of tax that the government collects and that the company importing the products must pay.
Together, China, Mexico, and Canada accounted for over 40% of US imports last year, making them America's top three trading partners.
Economists have cautioned that tariffs on items from the three nations may result in increased costs for everything from avocados to iPhones in the United States.

Although Trump supported border taxes of up to 60% on Chinese goods during his presidential campaign, his demand for an additional 10% levy on Chinese imports, which he stated would also take effect on Tuesday, had not been previously made public.

The Chinese Embassy's spokesperson, Liu Pengyu, stated that his nation was already collaborating with the US to solve the fentanyl issue and had achieved "visual progress" in areas including information sharing, case cooperation, and the removal of internet advertisements.
He stated in a statement that Trump's tariff actions were "bound to affect and undermine future counternarcotics cooperation between the two sides" and that "the fundamental solutions are reducing domestic drug demand and strengthening law enforcement cooperation."
"The unilateral tariffs imposed by the US will not solve its own problems, nor will it benefit the two sides or the world."

According to trade analyst Christine McDaniel, a senior research scholar at the Mercatus Centre at George Washington University, Trump's remarks calling for the drug flow to cease or be "severely limited" appeared to pave the way for negotiations between Mexico and Canada.
Two detained accused leaders of the brutal Zetas cartel that the US has long pursued, Miguel Angel Trevino Morales and his brother Oscar, were extradited on Thursday as tariff negotiations heated up.
According to Mexican media, they were among a bigger group of drug lords who were transferred to the US from Mexico, marking a significant development in the security relationship between the US and Mexico.

Trump's demands of China, according to Ms. McDaniel, are less explicit, which increases the possibility that those actions will be implemented.

 

Trump's threats against Canada and Mexico overshadowed his first round of tariffs on China. However, the possibility of additional responsibilities begs the question of how companies will react.
According to Ms. McDaniel, she anticipated that China would be more affected.
"It's not costless for the US, but so far it seems more costly for China," she stated.


The economies of Canada and Mexico, who rely on the US as a major export market, are predicted to be more affected by tariffs, if they are implemented.
However, experts have cautioned that even if the tariffs are never implemented, their threat is still likely to deter investment, even in the US.

China has already imposed its own duties on US goods, such as coal and farm equipment, in retaliation for the US's initial wave of levies.
Trump has downplayed concerns about harm to the US economy.