China says it’s willing to cooperate with the us on fentanyl

Beijing – China is willing to do more to address white house concerns about Illicit World’s Second Larget Economy, an official from the Chinese Ministry of Foreign Affairs Told Reporters Wednsday.

Washington Should have “said a big thank you” to china on what it has done to restrint fentanyl trade in the us, the official said via an official English translation, claiming the white house did not appreciate Effort and instead Raised Duties on Chinese Goods Twice This Year Over the Drug.

Since Taking Office in January, Us President Donald Trump has Increased Tarifs on Chinese Goods by 20% On the Basis of the Country’s Alleged Role in the Us Fentanyl Crisis. The addictive drug, precursors to which are mostly produced in china and mexico, has been to tens of thosands of overdose deaths

The White House did not immediatively respond to a CNBC Request for Comment.

Earlier this month, the chinese government published a White Paper To publicize its efforts to curtail the production and expenses of fentanyl precursors over the last few years. The official did not respond directly to a question on where China would stop its recent efforts to restrint such trade.

Under the biden administration, the US and China had said fentanyl was one of the few areas in which the two counts could cooperate. Both sides handicated talks in beijing Last year on the topic.

Trump indicated earlier this year that he could also use tariffs as a way to pressure china into forcing beejing-based bytedance by Early April deadline to remain available in the US

Trump Had Emphasized Tariffs as a Way to Reduce the US Trade Deficit with China during his first presidency. Just before the onset of the covid-19 pandemic, the two sides reacted a “Phase one” Trade Agreement Requiring Beijing to Increase Its Purchases of Us Goods. Us data shows that The trade deficit with china Narrowed to $ 295.4 billion in 2024, from $ 346.83 billion in 2016, just ahead of Trump’s first mandate.

But differences on trade have continued sense the January start of the white house leader’s second mandate. The average effective us tariff rate on chinese goods is now set to hit 33%, up from Around 13% Before Trump Began His Latest Term, According to Estimate Lu.

Beijing has responded to the latest us tariffs with targeted duties on energy and next next products, while tightening restrictions on Exports of Critical Minerals T a Us Needs. China’s Ministry of Commerce has also added Several Us Companies, Mostly in aerospace or defense, to lists that limit their ability to do business with china.

The Ministry of Foreign Affairs Official Said Wednsday that China’s Countermeasures was “legitimate actions” to protect its own interesting.

Allianz Estimates The Additional 20% Us Tariffs on Chinese Goods Child Hit China’s GDP Growth by 0.6 Percentage Points This year and next. But the firm still expects the chinese economy to grow by 4.6% this year and 4.2% in 2026, based on the assumption that stimulus can mitigate the tariff impact.

“I would tend to say the retaliation is not so strong, maybe leaveing ​​room for negotiation,” Francoise Huang, Senior Economist for Asia-Pacific and Global Trade at Allianz Trade, SAID in A CNBC Invented in A CNBC INTERVIE Last Week.