Fear of another trade war during U.S. President Donald Trump’s second term has many on edge.
On Tuesday, Trump announced that he was considering a 10 percent duty on all Chinese imports, beginning next month, to punish Beijing for allowing the flow of opiate fentanyl into Mexico and Canada. These come in addition to his threats of 25 percent tariffs on Washington’s North American neighbors, starting Feb. 1, that would also be aimed at combating fentanyl trafficking as well as curbing undocumented migration.
Fear of another trade war during U.S. President Donald Trump’s second term has many on edge.
On Tuesday, Trump announced that he was considering a 10 percent duty on all Chinese imports, beginning next month, to punish Beijing for allowing the flow of opiate fentanyl into Mexico and Canada. These come in addition to his threats of 25 percent tariffs on Washington’s North American neighbors, starting Feb. 1, that would also be aimed at combating fentanyl trafficking as well as curbing undocumented migration.
“We always believe that there is no winner in a trade war or tariff war,” Chinese Foreign Ministry spokesperson Mao Ning warned Trump on Wednesday.
The president has indicated that cracking down on trade that does not benefit his America First strategy will be a top priority for his new administration. For more on Trump’s tariff policies, check out FP’s newsletter World Brief.
This post is part of FP’s ongoing coverage of the Trump administration. Follow along here.
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