U.S. President Donald Trumpon Tuesday vowed to hit the European Union with tariffs and said his administration was discussing a 10% punitive duty on Chinese imports because fentanyl is being sent from China to the U.

U.S. President Donald Trump pledged Tuesday to hit the European Union with tariffs, adding that a 10% duty on Chinese imports could also come as soon as February 1. Trump, who was speaking to reporters at the White House a day after being sworn in,

Chinese stocks fell after US President Donald Trump said his threat to impose 10% tariffs on the nation’s goods was still being considered and may take place next month.

US President Donald Trump escalated his trade rhetoric on Tuesday, promising tariffs against the European Union (EU) and reiterating his intention to impose a 10% duty on Chinese imports. These threats come just a day after his inauguration.