Trump says he will impose additional 10% tariffs on China over drug inflow

Investing.com-- President-elect Donald Trump said on Monday that he will impose an additional 10% tariff on all Chinese imports to the U.S. to pressure Beijing into curbing the flow of illegal drugs into the country.

Trump said in a post on Truth.social that he had held numerous talks with Chinese officials over curbing the supply of drugs, particularly fentanyl, to the U.S. 

But he claimed that such talks had not yielded any results, and that “drugs were still pouring into our country, mostly through Mexico, at levels never seen before.”

“Until such time as they stop, we will be charging China an additional 10% Tariff, above any additional Tariffs, on all of their many products coming into the United States of America,” Trump said. 

Trump had threatened to impose an up to 60% tariff on all Chinese goods, a move that could potentially spark a renewed trade war between the world’s biggest economies.

Trump threatens tariffs on Canada, Mexico over immigration

Trump also said on Monday that he will impose a 25% tariff on all imports from Canada and Mexico, citing concerns over allegedly illegal immigrants coming into the U.S. through the countries. 

Trump said he will impose the tariffs “as one of my many first executive orders” when he takes office on January 20.

“This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country! Both Mexico and Canada have the absolute right and power to easily solve this long simmering problem,” Trump said in a Truth.Social post.

The President-elect had campaigned on promises of protectionist policies towards trade and immigration- carrying over his rhetoric from his first term, which had seen increased U.S. import tariffs on several trading partners.