“Chinese state media has warned US President-elect Donald Trump that his promise to impose additional tariffs on Chinese goods over fentanyl flows could lead to a devastating tariff war between the world’s two biggest economies.”, — write: epravda.com.ua
Chinese state media has warned US President-elect Donald Trump that his promise to impose additional tariffs on Chinese goods over fentanyl flows could lead to a devastating tariff war between the world’s two biggest economies. This is reported by the Reuters agency. Trump, who will take office on January 20, said he would impose “an additional 10% tariff on top of any other” on imports from China unless Beijing stops smuggling chemical precursors used to make the deadly drug fentanyl. The remarks came as the two superpowers prepare for Trump’s second term, the first of which was marked by a trade war.Advertisement: The war then disrupted global supply chains, hurt both economies and sent inflation and interest rates soaring.Advertisement: On Tuesday editorials in China’s state-run China Daily and Global Times warned the new owner of the White House not to do China scapegoat for the US fentanyl crisis and not to take China’s anti-drug goodwill for granted.” “The pretext the president-elect used to justify his threat of additional tariffs is far-fetched.” , – notes China Daily. “There are no winners in tariff wars. If the U.S. continues to politicize economic and trade issues, using tariffs as a weapon, the consequences will affect everyone.” Economists have already started to cut forecasts for the $19 trillion Chinese economy to grow in 2025 and 2026 in anticipation of new tariffs promised by Trump on the campaign trail. They also warn Americans about a possible increase in the cost of living.