On the campaign trail, Mr Trump promised a 10 per cent to 20 per cent charge on all imported goods and 60 per cent on Chinese products. He also vowed a 25 per cent tariff on all products from Canada and Mexico, and an additional 10 per cent duty on Chinese goods.
Trump underscored his intention to use tariffs as a tool of international economic policy and an increasingly vital source of government revenue.
Donald Trump will issue a broad trade memo on Monday that stops short of immediately imposing new tariffs on his first day in office but directs federal agencies to evaluate U.S. trade relationships with China,
During his campaign, Trump had vowed to hit China with 60 per cent tariffs, before threatening an additional 10 per cent on the first day of his presidency to compel Beijing to crack down on flows of precursor drugs for fentanyl.
Most Asian markets extended a global rally Wednesday as investors gave a cautious welcome to Donald Trump's first full day in office amid hopes he will take a more cautious
As Donald Trump is sworn in as the 47th president, he's not expected to impose China-specific tariffs on his first day in office, signaling a strategic shift toward engagement with Beijing rather than reigniting a trade war.
Chinese markets were relieved after Beijing avoided an instant blizzard of executive orders, but Mexico's peso and Canada's dollar weren't so lucky.
Base metals declined after US President Donald Trump said he would likely enact tariffs on Mexico and Canada by Feb. 1, hurting market sentiment even as he held off from imposing levies on China.
Within hours of his return to the White House, Trump (pictured) signed a flurry of executive orders and signalled an era of upheaval for the world economy.
MOST Asian markets extended a global rally on Wednesday as investors gave a cautious welcome to Donald Trump’s first full day in office amid hopes he will take a more cautious approach on trade than initially feared.