Trump Keeps China Tariffs on the Table Despite Delay

President Donald Trump, speaking at a White House event on Tuesday, reiterated his threat to impose a 10% tariff on all imports from China, despite holding off on the move for now, Bloomberg reports.

Trump's comments come a day after he decided to delay the tariffs, instead focusing on enacting the previously promised 25% levies on Canada and Mexico by February 1. This seemingly more measured approach to China, however, may be short-lived.

"We’re talking about a tariff of 10% on China, based on the fact that they’re sending fentanyl to Mexico and Canada," Trump stated. This threat stems from his assertion that China is responsible for the trafficking of fentanyl and the chemicals used to produce the deadly drug into the US. He also highlighted the billions of dollars in revenue generated from the tariffs he previously imposed on China during his first term.

Trump's comments echo his campaign pledges, where he promised sweeping tariffs against various nations, including a 60% levy on Chinese products. Following his election, he further threatened an additional 10% tariff on China, citing fentanyl trafficking and the potential for a 25% tariff on Mexico and Canada if they failed to cooperate in securing the US border.

Despite this aggressive stance, Trump opted to prioritize a global approach to unfair trade practices and investigate China's compliance with a trade deal signed during his previous term. This approach suggests a potentially slower strategy towards China compared to the immediate action taken against its North American neighbors.

Trump's recent phone conversation with Chinese President Xi Jinping, days before his inauguration, reportedly touched upon trade, fentanyl, and the TikTok social media platform. However, according to Trump, the discussion did not extensively delve into the tariff issue.

"We didn’t talk too much about tariffs, other than he knows where I stand," Trump stated, emphasizing his pre-existing stance on the matter. He highlighted the significant revenue generated by existing tariffs, emphasizing that China had not previously contributed financially to the US before his presidency.

These comments follow pronouncements from Chinese Vice Premier Ding Xuexiang at the World Economic Forum in Davos, Switzerland. Ding Xuexiang indicated that China would increase its imports, emphasizing the country's desire for balanced trade. This statement, however, did not explicitly mention any specific countries or trade practices.