Michelle ThompsonUS President Donald Trump has stated that he is considering imposing a 10% tariff on Chinese-made goods starting on February 1. He mentioned that discussions with his administration are centered around China’s role in sending fentanyl to Mexico and Canada. This comes after Trump’s earlier threats to apply a 25% tariff on Mexico and Canada, accusing them of allowing undocumented migrants and drugs into the US.
During a press conference in Washington, Trump also expressed intentions to impose tariffs on the European Union, criticizing their treatment of the US. “China is an abuser, but the European Union is very, very bad to us,” he said. “They treat us very, very badly, so they’re going to face tariffs. It’s the only way to achieve fairness.”
After being sworn in on Monday, Trump directed federal agencies to review existing trade agreements and identify unfair practices by US trade partners.
Meanwhile, China’s Vice Premier, Ding Xuexiang, addressed the World Economic Forum in Davos, calling for “win-win” trade solutions, though he did not directly mention the US.
Trump had previously promised to impose tariffs as high as 60% on Chinese goods during his campaign. In response, Canadian Prime Minister Justin Trudeau warned that Canada would retaliate if the US proceeds with tariffs, saying, “everything is on the table.”
Ottawa is preparing counter-tariffs, potentially worth billions of dollars, in response to the threat. Canada, China, and Mexico are among the top US trading partners.
Tariffs are a key part of Trump’s economic strategy, which he believes will stimulate growth, protect jobs, and increase tax revenue. However, many economists warn that such measures could raise prices for Americans and harm businesses facing foreign retaliation.
Emily Martinez
