President Trump's comments on tariffs continue to stir interest in U.S. trading partners around the world. In the Asia Pacific, many countries are still waiting for details on how their exports may be affected, including China.
The threat of tariffs is hovering over several U.S. trade relationships.
On Wednesday, a spokeswoman at the Chinese Foreign Ministry said China would “defend its national interests” — adding that “there are no winners in a trade war or a tariff war.”
Putting tariffs on Chinese imports is a form of a tax. It's a matter of degree, but it's not a new concept.
The Peterson Institute for International Economics notes that the U.S. first put tariffs on Chinese goods in the late 1800s.
For the past 30 years, differing levels of tariffs have been put on Chinese imports by the Clinton, Bush, Obama and Biden administrations — as well as the previous Trump administration.
But the level and type of tariffs now in play are a moving target — and so is the timing.
This week, President Trump suggested tariffs of 10% on Chinese goods could come as early as Feb. 1. That's considerably less than the 60% tariffs Trump threatened on the campaign trail.
It's also less than the 25% tariffs Trump is talking about when it comes to Canada and Mexico.
But his administration is still considering options, leaving tariffs not only linked to trade policy but also to leverage in negotiations.