President Donald Trump has taken a significant step by signing an executive action that doubles the additional tariff on all Chinese goods from 10% to 20%. This decision is aimed at pressuring China to address the issue of fentanyl entering the United States. Trump emphasized that the communist country has not done enough to combat the flow of illegal drugs, leading to the escalation of tariffs.
The new 20% tariff is in addition to any existing tariffs on Chinese goods, making it the largest in US-China history. The initial tariffs, which came into effect on February 4, cover approximately $1.4 trillion worth of imported goods, significantly surpassing the $380 billion in tariffs imposed during Trump's first term.
