News Summary

Author: Unknown
Published on: 04/02/2025 | 00:00:00

AI Summary:
Trump announced that he would “immediately pause” tariffs on Mexico and Canada for 30 days. However, a 10 percent tariff on all China exports comes into effect on Tuesday. Trump has also spoken against the high trade deficit in goods with the three countries that together stands at more than $480bn. China slaps 10 percent tariffs on crude oil imports and farm equipment. China has called the fentanyl crisis “America’s problem”. China has given support to the US’s response to this issue, a Chinese Ministry of Foreign Affairs spokesperson says. China has responded relatively calmly, suggesting that a 10 percent tariff is something they can withstand. Trump launched a fierce two-year trade war with China, imposing tit-for-tat tariffs on about $50bn worth of Chinese imports. The big concern for Donald Trump is the flow of illegal substance fentanyl as well as illegal immigration into the United States, Al Jazeera’s Halkett said. The US trade deficit with Mexico stands at more than $100bn.

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