Official announcements from the U.S. government or trade department publications

China and Canada Warn After Trump's Tariff Plan: 'No One Wins a Trade War'

Nov 26, 2024, 03:51 AM

China has warned that 'no one will win a trade war' following U.S. President-elect Donald Trump's announcement of plans to impose significant tariffs on imports from China, Mexico, and Canada. The proposed tariffs include an additional 10% to 60% on Chinese goods, reportedly in response to issues such as the illegal drug trade and immigration. The Chinese Embassy in Washington emphasized that U.S.-China economic and trade cooperation is mutually beneficial, cautioning against the negative consequences of a trade war or tariff war. Canada's Foreign Minister Chrystia Freeland also responded to Trump's tariff plan, expressing concerns over the new tariffs affecting Mexico and Canada. Both China and Canada have expressed apprehension about the potential impact on global trade relations.