Trump signals possible 10% tariff on China as early as February
by ChemOrbis Editorial Team - content@chemorbis.com
US President Donald Trump announced plans to impose a 10% tariff on China, which could take effect as early as February 1, media sources reported. Speaking to reporters at the White House, Trump linked the proposed levy to China’s role in the production of fentanyl precursors.
Trump recently discussed the issue with Chinese President Xi Jinping, emphasizing trade and fentanyl cooperation. However, Chinese state media did not mention the proposed tariff, instead focusing on Trump’s remarks about potential duties on the European Union. Meanwhile, China’s Vice Premier Ding Xuexiang, speaking at the World Economic Forum, warned that there are “no winners” in trade wars and called for enhanced global economic cooperation.
Trump also indicated that his administration was considering a 25% tariff on Mexico and Canada, citing concerns over border security. These duties could begin as early as February. During his 2024 presidential campaign, Trump advocated for tariffs of up to 60% on Chinese goods.
Trump recently discussed the issue with Chinese President Xi Jinping, emphasizing trade and fentanyl cooperation. However, Chinese state media did not mention the proposed tariff, instead focusing on Trump’s remarks about potential duties on the European Union. Meanwhile, China’s Vice Premier Ding Xuexiang, speaking at the World Economic Forum, warned that there are “no winners” in trade wars and called for enhanced global economic cooperation.
Trump also indicated that his administration was considering a 25% tariff on Mexico and Canada, citing concerns over border security. These duties could begin as early as February. During his 2024 presidential campaign, Trump advocated for tariffs of up to 60% on Chinese goods.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- March hints at further hikes in European PP, PE markets
- India’s PVC market dips to new lows on Taiwan’s March cuts, players seek signs of bottom
- Q1 turnarounds uplift Mid-East PP, PE markets in February; will it spill over to March?
- SE Asia’s indefinite PE shutdowns: A market in crisis as demand woes threaten survival
- Türkiye’s PPH markets perform better than copolymers in February
- Margin recovery priorities outweigh supply imbalances in European PVC markets
- Asian PVC demand stagnant; recovery hopes shift to end of Q1
- Tough slog in S Korea’s petchem industry spells disappointing 2024 financial results; will government's recent plan help weather the storm?
- China’s PP, PE markets face post-holiday supply surge and tepid demand
- A tug-of-war unfolds in Türkiye as PVC demand struggles against rising costs
