President Trump expressed he is “not in a hurry” to meet with Chinese President Xi amid rising trade tensions, coinciding with new tariffs on Chinese imports. As the U.S. imposes a 10% tariff on all Chinese exports, China retaliated with tariffs on American goods. The ongoing trade conflict raises concerns about consumer prices and economic cooperation. Meanwhile, Mexico and Canada are enhancing border security efforts, reflecting the complexities of U.S. trade relations with these key partners.
In a recent statement, President Donald Trump conveyed that he is ‘not in a hurry’ to engage in discussions with Chinese President Xi Jinping, coinciding with the first day of escalating trade tensions between the two leading economies.
During a press briefing at the White House, Trump remarked, ‘I will talk to him when the time is right. I am not in a hurry.’
He expressed confidence in the U.S. economy, asserting, ‘We will do very well against China as we will against all other countries,’ while emphasizing that the United States ‘is once again respected as a nation.’
As midnight struck, a new 10% tariff was levied on all Chinese exports to the United States, prompting Beijing to swiftly respond by announcing increased tariffs on various American products.
Starting February 10, China plans to implement a 15% tariff on imports of American coal and liquefied natural gas (LNG).
Additionally, a 10% tariff will be enforced on imports of American oil alongside a variety of goods, including agricultural machinery, large sports vehicles, and vans.
Initially, imports from Mexico and Canada to the U.S. were also scheduled to face a 25% tariff beginning Tuesday. However, Trump extended a one-month grace period after these countries committed to bolstering border security.
Trump has framed these tariffs as a strategy to address the surge of illegal immigration and drug trafficking into the United States. He criticizes the inadequate border controls and accuses China of neglecting its role in the production of fentanyl precursors, a potent synthetic opioid causing significant issues in the U.S.
The Chinese Ministry of Finance responded, stating that Trump’s tariffs ‘do nothing to solve the problems specific to (the United States) and disrupt economic and trade cooperation’ between the two nations.
Moreover, China has initiated an antitrust investigation into the American tech behemoth Google and has placed several U.S. companies on its list of ‘unreliable entities.’
Experts warn that the ongoing increase in tariffs could lead to rising prices for American consumers, which stands in contrast to Trump’s campaign promise of enhancing purchasing power.
When questioned about potential impacts on households and businesses, Peter Navarro, the president’s trade and industry advisor, simply stated, ‘Trust Donald Trump’ during an event hosted by Politico.
– ‘Four Years of Uncertainty’ –
The Republican president, who has often declared ‘tariff’ as one of the most beautiful words in the dictionary, acknowledges using them as a bargaining tool to negotiate ‘deals’ with specific nations.
In a commitment to curb illegal immigration, Mexico has pledged to deploy an additional 10,000 soldiers to its border with the United States, with their deployment commencing on Tuesday, as announced by Mexican President Claudia Sheinbaum.
Canada has also vowed to assign a dedicated official to tackle fentanyl trafficking, establish a joint task force with the U.S. against organized crime, and designate Mexican cartels as terrorist organizations.
The one-month grace period announced by Trump was met with cautious optimism from the Canadian side of the border, viewed as a temporary but fragile reprieve.
‘I don’t think we will be able to feel at ease for a while; we will remain in uncertainty for four years,’ expressed Krysten Lawton, an employee at a Ford factory, in an interview with AFP.
With Mexico, Canada, and China being key trading partners of the United States, they collectively represent over 40% of the nation’s imports.