China warns of trade war as Trump threatens new tariffs on imports

Chinese state media has warned that President-elect Donald Trump's plan to impose new tariffs on Chinese goods could lead to a damaging trade war. This follows Trump's announcement of a 10% tariff on all Chinese imports unless China stops exporting fentanyl precursors. Trump's proposed tariffs also include a 25% increase on goods from Canada and Mexico. His previous tariffs ranged from 7.5% to 25%, but new measures could exceed 60%. Chinese officials criticized Trump's rationale, emphasizing ongoing cooperation in anti-drug efforts. The tensions highlight ongoing trade disputes between the U.S. and China, which have already affected global supply chains. U.S. companies have shifted sourcing away from China, reducing its share of U.S. imports to the lowest in 20 years.