President Trump implemented a 10% tariff on Chinese goods, effective immediately, as part of an executive order aimed at pressuring China to curb fentanyl shipments. This new tariff adds to existing levies imposed in his previous term, impacting over $400 billion in annual imports. While tariffs on Canada and Mexico were paused following their governments' agreement to enhance narcotics oversight, the situation with China remains tense. Notably, Trump eliminated a tariff-free shipping loophole used by Chinese e-commerce entities, signaling a firmer stance in U.S.-China trade relations.
President Trump enforced a 10% tariff on over $400 billion of Chinese goods, aiming to compel China to control fentanyl shipments, amid tense trade relations.
In a recent move, President Trump also canceled a loophole that allowed Chinese goods to enter the U.S. tariff-free, impacting popular e-commerce platforms.
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