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Date: 2025-08-22 Page is: DBtxt003.php txt00028215

US NEWS COMPILATION AXIOS FEBRUARY 2025 AXIOS news compilation for February 2025 Original article: Peter Burgess COMMENTARY Peter Burgess
Axios Business Trump raising tariffs on China another 10%, citing flows of illegal drugs Ben Berkowitz President Trump signs an executive order in the Oval Office. ... Photo: Alex Wong/Getty Images The U.S. will raise tariffs on China another 10% on Tuesday, citing the flow of illegal drugs into the country, President Trump said. Why it matters: It's an escalation of the growing tariff war with one of the largest U.S. trading partners. The move comes against a backdrop of sinking consumer confidence, with more Americans expecting inflation to rise sharply (again) and citing tariffs as the reason why. Driving the news: Trump announced the new tariffs in a Truth Social post. 'Drugs are still pouring into our Country from Mexico and Canada at very high and unacceptable levels. A large percentage of these Drugs, much of them in the form of Fentanyl, are made in, and supplied by, China,' Trump wrote. He also said scheduled 25% tariffs on imports from Canada and Mexico would go into effect Tuesday as well. There was some confusion Wednesday, based on comments Trump made at a Cabinet meeting, about whether those tariffs were still on or not. By the numbers: Stocks dropped, bond yields rose, and the U.S. dollar surged after Trump's post Thursday. Flashback: On the campaign trail, Trump talked of a 60% tariff on Chinese imports. Later, he suggested another 10% in tariffs on top of that, specifically because of the fentanyl issue. He ultimately held off on the larger levy, and imposed just the 10% tariff on China, earlier this month. At the same time he also announced the Canada and Mexico tariffs, but temporarily suspended those after both countries' leaders took initial steps to curb drug flows. Editor's note: This is a breaking news story. Check back for updates. Ben Berkowitz Jan 30, 2025 - Economy Trump says tariffs against Canada, Mexico coming Saturday President Trump signing documents in the Oval Office. Photo: ROBERTO SCHMIDT/AFP via Getty Images President Trump on Thursday reiterated that tariffs are coming against Canada and Mexico on Saturday, though he said the scope of those levies is still up in the air. Why it matters: Canada and Mexico are the top U.S. trading partners, and his ongoing tariff threats have sparked fears of an economically damaging trade war. Go deeper (1 min. read) Courtenay Brown Updated Feb 2, 2025 - Business Trump tariffs begin, with levies on Canada, Mexico, China President Trump sits at a desk and signs the free trade agreement in 2020 Trump signs the U.S.-Mexico-Canada Agreement (USMCA) in 2020. Photro: Oliver Contreras/Sipa USA/Bloomberg via Getty Images President Trump on Saturday imposed across-the-board tariffs on North American allies and China, which sparked immediate retaliation against domestic manufacturers. Why it matters: After weeks of 'will he or won't he,' Trump opted for sweeping levies that could de-link economic ties with top trading partners. The impact on American consumers and businesses may be profound. Rebecca Falconer Updated Feb 10, 2025 - Business Trump touts 25% tariffs on steel and aluminum imports President Donald Trump speaks to the press after signing a proclamation renaming the Gulf of Mexico as the Gulf of America aboard Air Force One, as it flies over the Gulf enroute to New Orleans, Louisiana on Febrary 09, 2025. President Trump speaks to journalists aboard Air Force One as it flies over the Gulf en route to New Orleans, Louisiana on Sunday. Photo: Roberto Schmidt/AFP via Getty Images President Trump said he'll announce 25% tariffs on steel and aluminum imports on Monday and 'reciprocal tariffs' later this week. The big picture: Trump campaigned on using tariffs to boost the economy and revive the domestic industry, which economists have warned would hit U.S. consumers, though he's so far mostly quickly pulled back on such threats.

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