Criticism Of China

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President Donald Trump told reporters late Tuesday that he is considering a 10% tariff on goods from China that could take effect <a href="https://www.benzinga.com/markets/forex/25/01/43122779/asia-mixed-europe-up-as-trumps-tariff-plans-sparks-market-caution-gold-hits-11-week-high-global-markets-today-while-us-slept">as soon as Feb.1.&nbsp;</a>



&nbsp;"We're talking about a tariff of 10% on China based on the fact that they're sending fentanyl to Mexico and Canada," the president said on Tuesday evening, per CNBC.&nbsp;



"Probably Feb. 1 is the date we're looking at," he added.



Read Next: <a href="https://www.benzinga.com/news/large-cap/25/01/43106379/trump-reverses-bidens-ai-policies-on-day-1-what-it-means-for-tech-giants-nvidia-amd-alphabet">Trump Reverses Biden&#8217;s AI Policies On Day 1: What It Means For Tech Giants Nvidia, AMD, Alphabet&nbsp;</a>



What To Know: The potential 10% tariff on Chinese imports is much lower than levies of up to 60% Trump had threatened while campaigning for office.&nbsp;



The potentially reduced levies come after Trump revealed on Friday that<a href="https://www.benzinga.com/markets/asia/25/01/43060607/trump-xi-talk-trade-tiktok-peace-in-first-call-since-2021"> he had spoken</a> with Chinese President Xi Jinping over the phone about trade, fentanyl, TikTok and other topics.&nbsp;



He shared some details and expressed optimism regarding the relationship with China on his social media platform, Truth Social.&nbsp;&nbsp;



"It is my expectation that we will solve many problems together, and starting immediately," Trump said.&nbsp;



Why It Matters: U.S.-listed Chinese stocks climbed Tuesday after Trump neither targeted China in his inauguration speech nor did he instantly impose tariffs on Day 1.&nbsp;



However, following Trump's comments on Tuesday evening, U.S.-listed Chinese stocks are dipping Wednesday with Alibaba Group Holdings, Ltd. BABA and Baidu, Inc. BIDU both down in early trading. Share of Chinese EV makers XPeng, Inc. XPEV and Li Auto, Inc. LI are also moving lower at the time of publication Wednesday. 



Investors can also monitor effects of proposed tariffs on China through the KraneShares CSI China Internet ETF KWEB which consists of China-based companies focused on internet-related technology. 



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President Donald Trump told reporters on Tuesday that he is considering a 10% tariff on goods from China that could take effect as soon as Feb.1. 

Trump 'Looking At' 10% Tariff On China Starting Feb. 1 - Alibaba Gr Hldgs (NYSE:BABA)

Erica Kollmann

Alibaba Gr Hldgs

XPeng

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KraneShares Trust KraneShares CSI China Internet ETF

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President Donald Trump told reporters on Tuesday that he is considering a 10% tariff on goods from China that could take effect as soon as Feb.1. 

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