President Donald Trump is taking aim at China and the European Union with tariff threats.
That’s after putting Canada and Mexico in the bullseye on day one.
Bloomberg says that White House officials are discussing a ten percent tariff on China, based on the fact they’re sending fentanyl to the U.S. through Mexico and Canada.
In response to the tariff threat, Farm Policy News says China is “willing to maintain communication with the U.S. to properly handle differences and expand mutually beneficial cooperation.”
While the U.S. is China’s largest trading partner, China’s imports from the U.S. dropped 0.1% in dollar terms last year while exports grew 4.9%.
China’s trade surplus with the U.S. was $361 million in 2024, higher than the $316 million reported in the last year of President Trump’s first term.
President Trump’s first action on trade was ordering an investigation into U.S.-China trade.
