Will Trump hit China with 10 per cent tariff from next month? Here's what we know
President Donald Trump reaffirmed that a 10% tariff on all Chinese imports is still under consideration, with a potential implementation date of February 1st. He had previously excluded China from the list of countries facing imminent tariffs.
FollowPresident Donald Trump stated that his proposal to impose a 10% tariff on all Chinese imports remains on the table and suggested it could be implemented as early as next month. This announcement came a day after he excluded China from the list of countries he planned to target in the near term.
“We’re talking about a tariff of 10% on China, based on the fact that they’re sending fentanyl to Mexico and Canada,” Trump said during an event at the White House. “Probably February 1st is the date we’re looking at.”
Trump’s remarks on Tuesday indicate that any temporary relief for China from planned trade tariffs might be brief.
During his campaign, Trump had vowed to implement extensive tariffs on various countries, including a 60% levy on Chinese goods. Following his election, he also warned of imposing an additional 10% tariff on China, citing concerns over the trafficking of fentanyl and related chemicals used in its production.
Furthermore, he threatened 25% tariffs on Mexico and Canada if they did not cooperate with the US in securing its borders.
On Tuesday, Trump also targeted the European Union, describing it as "very, very bad" for the United States.
“Other countries are big abusers also, you know it’s not just China,” Trump said. “We have a US$350 billion deficit with the European Union. They treat us very very badly, so they’re going to be in for tariffs.”
On Monday, marking the first day of his new term, Trump refrained from imposing China-specific tariffs. While he stated his intention to apply a 25% levy on Canada and Mexico by February 1, he directed his administration to focus on addressing unfair global trade practices and to investigate China's compliance with a deal he signed during his first term, signaling a more gradual approach toward China.
“While the Trump Administration’s instant actions do not lead to new tariffs being imposed immediately, the memorandum demonstrates a clear and methodical effort to lay the foundations for future tariff actions and other measures,” according to a report on the executive order by law firm Baker Mckenzie.
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