What to Know About Trump’s Tariffs on China—and How Beijing Is Responding

TIME

President Donald Trump’s trade war with Canada, Mexico, and China is ramping up over the production and importation of the opiate fentanyl, along with trade surpluses and illegal border crossings by migrants from across the globe.

Transcript

00:00Indeed, we are firmly opposed to this unwarranted increase

00:05and we do believe that this is in violation of the WTO rules.

00:09So that's why China is filing a complaint at this WTO

00:16and also we may be forced to take countermeasures.

00:22And let me also emphasize that there is no winner in a trade war

00:28and we do hope that the U.S. would look at its own problems,

00:36really find a solution that is beneficial to itself and also to the whole world.

00:45And frankly speaking, I don't think that raising tariffs is beneficial to the U.S. itself.

00:51The excuse for raising the tariffs is on the fentanyl.

00:57Let me also say that this is also very much unwarranted

01:05and China is one of the countries that has the most stringent regulations on fentanyl.

01:13Actually, we have regulations on all fentanyl-related substance.

01:20Actually, China is the only country that puts the whole category

01:25of fentanyl-related substance under regulation.

01:30The U.S. should look at this process issue more from its own perspective.

01:37For instance, look at the demand side of the fentanyl

01:42rather than shifting the blame onto others.

01:46I don't think that will be good for the U.S. itself.

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