Trump is going to impose 10% tariffs on China starting February 1

US President Donald Trump told reporters at the White House that he is considering imposing a 10% duty on imports of Chinese goods starting February 1. Earlier, he also said that he would impose a 25% duty on goods from Canada and Mexico, the BBC reports.

He accused these two countries of letting undocumented migrants into the United States and drug trafficking. As for the duty on Chinese goods, the new president justifies it by saying that fentanyl, a highly dangerous drug, is being shipped to the United States through the borders of Mexico and Canada.

China’s vice prime minister said yesterday that his country is looking for a “win-win” solution that benefits both sides to resolve trade tensions. He did not mention the United States directly.

Raising import duties was one of Donald Trump’s campaign promises. He believes that this decision will help the American economy. However, according to the BBC, analysts believe that this will, on the contrary, lead to higher prices and additional difficulties for foreign companies.

Despite the plan to impose tariffs on Chinese goods, Trump invited Chinese leader Xi Jinping to his inauguration. Xi did not come, but the Chinese vice prime minister attended the ceremony.

Tags: China, USA