President Donald Trump has expanded his tariff threats to now include China and the European Union, citing issues such as fentanyl exports and trade imbalances. Trump proposed a 10% tariff on Chinese goods, potentially starting February 1, while also targeting the EU in over $350 billion in trade deficit, no immediate actions have been taken.
A review of trade practices is underway, with results expected by April 1, and will offer affected nations a window to address U.S. demands or avoid the new tariffs.
China responded to the rumored proposal by emphasizing the importance of dialogue and cooperation between the two countries, reiterating its stance that trade wars will yield no winners. The Chinese foreign ministry expressed it’s commitment to safeguarding national interests while promoting stable U.S.-China relations.
Photo Credit: The Brunswick Group
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