President Donald Trump announced he is planning a 10 percent tariff on Chinese imports on Feb. 1 over the country\u2019s role in fentanyl trafficking. <\/p>\n\n\n\n
“We’re talking about a tariff of 10% on China, based on the fact that they’re sending fentanyl to Mexico and Canada,” Trump told reporters at the White House on Tuesday. “Probably February 1st is the date we’re looking at.” <\/p>\n\n\n\n
When asked about a conversation he had with Chinese President Xi Jinping ahead of his inauguration this week, Trump added that “We didn’t talk too much about tariffs other than he knows where I stand.” <\/p>\n\n\n\n
During his campaign, Trump threatened tariffs as high as 60 percent on goods from China. He recently pledged on Truth Social to create an “External Revenue Service” to “collect our Tariffs, Duties, and all Revenue that come from Foreign sources.” <\/p>\n\n\n\n
At a press briefing Wednesday, Chinese foreign ministry spokesperson Mao Ning told reporters that “We always believe that there is no winner in a trade war or tariff war,” according to Reuters.<\/a> <\/p>\n\n\n\n In late November, Trump wrote on his Truth Social account that he would implement such tariffs on Jan. 20 as one of his first Executive Orders and that the tariffs “will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” <\/p>\n\n\n\n Those promised tariffs haven\u2019t gone into effect yet, but on Monday, Trump did sign an executive order titled “America First Trade Policy.” <\/p>\n\n\n\n “The Secretary of Commerce, in consultation with the Secretary of the Treasury and the United States Trade Representative, shall investigate the causes of our country\u2019s large and persistent annual trade deficits in goods, as well as the economic and national security implications and risks resulting from such deficits, and recommend appropriate measures, such as a global supplemental tariff or other policies, to remedy such deficits,” the order says. <\/p>\n\n\n\n “The Secretary of the Treasury, in consultation with the Secretary of Commerce and the Secretary of Homeland Security, shall investigate the feasibility of establishing and recommend the best methods for designing, building, and implementing an External Revenue Service (ERS) to collect tariffs, duties, and other foreign trade-related revenues,” it adds. On Wednesday, President\u00a0Donald Trump<\/a>\u00a0in a Truth Social post said he will institute tariffs on Russia<\/a> if the yearslong invasion of Ukraine<\/a> doesn’t come to an end.<\/p>\n\n\n\n Read Trump’s lengthy statement below:<\/p>\n\n\n\n I love the Russian people, and always had a very good relationship with President Putin – and this despite the Radical Left\u2019s Russia, Russia, Russia HOAX,” he said, referring to allegations from Sen. Adam Schiff (D-Calif.) and others that he colluded with Moscow to defeat Hillary Clinton.<\/p>\n\n\n\n\n
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