On January 21, just a day after taking office, Trump threatened to impose a 10% tariff on Chinese imports, citing fentanyl trafficking. By February 1, the U.S. had implemented a 10% tariff on Chinese goods and 25% on Mexico and Canada. Days later, China retaliated by targeting U.S. companies like Google and imposing tariffs on American coal, LNG, crude oil, and certain autos, along with export curbs on five critical metals.