China “firmly opposes” 10% duties decided by the American president Donald Trump Made in China import and ensures the adoption of “corresponding countermeasures”. This was announced by the Ministry of Commerce of Beijing.
The US “imposed an additional 10% rate on Chinese imports on the pretext of the Fenanyl issue: China deplora and firmly opposes this move and will adopt the countermeasures necessary to defend its legitimate rights and interests “. This is what a spokesman for the Ministry of Foreign Affairs says, which adds:” We are one of the most severe countries in the world On the fight against drug trafficking, both in terms of politics and implementation. Fentanyl is a problem for the USA: in a spirit of humanity and good will, China has given support to the American response to the problem “.” The position of China is firm and coherent “e “Commercial and tariff wars do not have winners”reads a note.
The Canada Instead it will impose rates on US goods from Tuesday, as a retaliation For those previously announced by the American president Donald Trump. Prime Minister Justin Trudeau said so.
We will impose “customs duties of 25% on American products for a total of 155 billion Canadian dollars” (102 billion euros), announced the head of the Ottawa government.
The first lap of rates will affect US goods for a value of 30 billion Canadian dollars Tuesday, followed by further duties on products for a value of 125 billion in three weeks. “We are certainly not looking for escalation, but we will defend Canada, the Canadians and Canadian jobs,” said Trudeau.
The rates will apply to “daily goods” such as beer, wine, fruit, vegetables, appliances, timber, plastic and “much more”, said the Canadian premier.
Trudeau therefore stressed that the commercial conflict will have “real consequences” for the Canadians but also for Americans, including loss of jobs, higher costs for food and petrol, potential closings of cars assembly plants and access prevented a Nichel, potassium, uranium, Canadian steel and aluminum.
Mexican President Claudia Sheinbaum denounced the accusation of her American counterpart as “calunious” Donald Trump according to which the Government of Mexico City would have links with drug trafficking and announced the imposition of duties on the United States as retaliation for those previously announced by the US President.
“We categorically reject the slander of the White House which accuses the Mexican government of having alliances with criminal organizations”, wrote the Sheinbaum on X speaking of next “customs measures” against Washington.
The Mexican president has in turn accused the United States’ arms manufacturers of dealing with “these criminal groups” in Mexico. Sheinbaum stressed that its government seized “40 tons of drugs in four months, including 20,000 doses of Fenanyl”.
He then challenged the government and official US agencies to “fight the sale of drugs in the streets of the main cities, which are not doing, and money laundering”. However, the president of Mexico also proposed to Trump to form “a task force with our best health and public safety teams”.
“It is not by imposing customs duties that we find solutions to problems, but speaking and dialoguing as we have done in recent weeks with its state department to deal with the phenomenon of migration; in our case, in compliance with human rights”, added the Sheinbaum .
Yesterday’s day:
Trump has signed the executive order to impose 25% duties against Canada and Mexico and 10% against China. Canadian energy will be taxed by 10%. The White House reports it. “Today’s measures are necessary to put China, Mexico and Canada in front of their responsibility for not stopping the wave of poisonous drugs in the United States,” says the White House on X referring to Fenanyl, the most powerful drug of the heroine who killed millions of people in the USA.
After signed the order for Trump duties he accused Mexico of having “an alliance with drug signs”.
“During the election campaign I promised the Americans that I would protect them from the flow of illegal migrants and drugs. It is my duty and they voted for avalanche for this”. Trump wrote it on social media.
From steel to medicines to gas and oil. The war of Donald Trump’s duties began: first against the neighbors of the United States and the Chinese opponent but soon, according to the threats of the American president, it could also be lashed out against the European Union that is said ready to “defend”. A measure that “worries”, also admits the Minister of Economy Giancarlo Giorgetti who urges the EU to “imagine tools to defend productions in Europe and Italy” who risk being “crushed by the” Asian and American competition. Like, “for example, an intelligent use of the environmental taxation that has been a sensational own goal for the whole automotive industry”.
After the renewed threats of the American President to impose the duties in response to an unjust commercial treatment by the allies of overseas, a spokesman for the European Commission replied that “the EU will remain faithful to its principles and, if necessary, will be ready to defend your legitimate interests “. The spokesperson has attracted the positions expressed in recent days by President Ursula von der Leyen and the EU Commissioner to Commerce, Maros Sefcovic, underlining the firmness of Europe in the face of possible protectionist measures. What is certain is that Trump’s initiative, arrived;; less than two weeks after his return to the White House, has marked a strong escalation in his commercial policy and it is the sign that the largest economy in the world wants to tax its commercial partners more important. According to the Trade Data Monitor database, in fact, in 2023 the imports of US goods from the EU, Canada, Mexico and China were 1.9 trillion dollars, about 60% of the total.
Despite the opposition of the investors and the red of Wall Street, Trump has kept his promise to impose 25% duties in Canada and Mexico from February 1st and 10% to China.
On the assets that will be taxed, the Commander-in-Chief has been quite vague and, speaking with journalists in the oval study, has drawn up a list that includes steel, aluminum, copper, pharmaceutical products, medicines, but also microchips, gas and oil in A second moment, starting from February 18th. The fact is that taxes on imports from those countries will have a weight on the pockets of the Americans who, according to a study by the University of Yale, will translate into $ 1,300 more annual expenses per family. “The Americans will understand”, he is convinced The Donald according to which his policy “will make the Americans richer”. For the Wall Street Journal this is the “stupid commercial war in history” which, in the last analysis, will slow down the American economy. In an editorial of the board of the economic newspaper, the imposition of higher rates for the neighbors of the United States compared to those against China is criticized in particular. “The notorious American opponents … Mexico and Canada will be affected by a 25%tax, while China, a real opponent, of 10%. A move that recalls Bernard Lewis’s old joke that it is risky to be an enemy of the America but it can be fatal to be a friend of it “, reads the article. But Beijing aside, attacks Editorial Board, “Trump’s commercial war makes no sense and will make the United States economy less competitive”.
And while Mexico and Beijing silenced, even if they have already prepared their duties packages in response to American ones, Canada reacted with irritation with the premier candidate who accused the president of being a “bully”.
Speaking exclusively to Bbbc NewsNight, Mark Carryy warned that his country “will reply, dollar for dollar, at the US rates”.
Meanwhile, Trump has made another indicative decision of the management who wants to give to his economic policy: the dismissal of the director of the Consumer Financial Protection Bureau, Rohit Chopra despite his mandate expires in 2026.
The New York Times reports it. At the head of the agency that protects banks and financial customers, Chopra was a thorn in the side of Wall Street for its aggressive approach in enforcing the laws to protect consumers and establishing new rules. It was grace on his turn of lives that in 2022 Wells Fargo was forced to pay 2 billion dollars to frank customers.