HONG KONG/SHANGHAI -- China on Saturday awoke to news that U.S. President Donald Trump was imposing a new tariff on its goods, reigniting fears of a superpower trade war that would ripple through the global economy.
The Trump administration said it will slap a 10% levy on Chinese goods, starting Saturday, while applying even heavier 25% tariffs on Canada and Mexico. The rationale is that these countries have failed to stop the flow of narcotics such as fentanyl into the U.S., which also wants its neighbors to do more to secure their shared borders.
