Trump intends to impose 10% tariffs on Chinese imports on February 1

President Donald Trump He announced that he plans to impose a 10 percent tariff on Chinese imports on February 1 due to the country’s role in fentanyl smuggling.

“We’re talking about a 10 percent tariff on China, based on the fact that they’re sending fentanyl to Mexico and Canada,” Trump told reporters at the White House on Tuesday. “Maybe February 1st is the date we’re looking at.”

When asked about the conversation he had With Chinese President Xi Jinping Ahead of his inauguration this week, Trump added: “We haven’t talked much about tariffs but he knows where I stand.”

During his election campaign, Trump threatened to impose tariffs of up to 60% on goods coming from China. He recently pledged on Truth Social to create a “Foreign Revenue Service” to “collect tariffs, duties, and all revenues that come from foreign sources.”

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Trump and his allies said such a plan would boost American manufacturing while making it harder for adversaries like China to “export their way out of their current economic distress,” as Treasury Secretary nominee Scott Besent told senators last week.

However, Democrats and opponents say the cost of the tariffs would be fair It moved to American consumers.

“Not only would broad-based tariffs raise costs at home and potentially push our economy into recession, they would likely trigger massive retaliation, hurting American workers, farmers and businesses,” Rep. Susan DelBene, D-Wash., said recently. In a statement.

At a press conference on Wednesday, Chinese Foreign Ministry spokesman Mao Ning told reporters: “We always believe that there is no winner in a trade war or a tariff war.” According to Reuters.

Trump also said a 25 percent tax would be imposed All merchandise is from Canada and Mexico By February.

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In late November, Trump wrote on his Truth Social account that he would implement the tariffs on January 20 as one of his first executive orders and that the tariffs “will remain in effect until such time as narcotics, especially fentanyl, and all types of drugs are prohibited.” Illegal drugs.” Aliens stop this invasion of our country!

These tariffs have not yet gone into effect, but on Monday, Trump signed an executive order titled “America First Trade Policy.”

“The Secretary of Commerce, in consultation with the Secretary of the Treasury and the United States Trade Representative, will investigate the causes of our nation’s large and persistent annual trade deficits in goods, as well as the economic and national security impacts and risks resulting from such deficits, and recommend appropriate measures,” the order said. Such as imposing a global supplementary tariff or other policies to address this deficit.”

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“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, constructing, and implementing the External Revenue Service (ERS) to collect tariffs, duties, and other revenues related to foreign trade.”

Fox News’ Elizabeth Elkind and Fox Business’ Daniella Genovese contributed to this report.