President Donald Trump announced that it plans a 10 percent tariff on Chinese imports on February 1 for the country’s role in fentanyl trafficking.

“We’re talking about a 10 percent tariff on China, based on the fact that they’re sending fentanyl to Mexico and Canada,” Trump told reporters at the White House on Tuesday. “Feb. 1 is probably the date we’re looking at.”

When asked about a conversation he had with Chinese President Xi Jinping before his inauguration this week, Trump added that “We didn’t talk too much about tariffs other than you know where I stand.”

During his campaign, Trump threatened tariffs of up to 60 percent on products from China. Truth Social recently pledged to create an “External Revenue Service” to “collect our tariffs, taxes and all revenue that comes from foreign sources.”

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Trump delivers his inaugural address after being inaugurated as the 47th President of the United States on January 20 in Washington, DC (Chip Somodevilla/Pool/AFP via Getty Images/Getty Images)

Trump and his allies have argued that the plan would bolster American manufacturing while making it harder for adversaries like China to “export their way out of their current economic malaise,” as Treasury Secretary nominee Scott Bessent put it last week to the senators

However, Democrats and opponents argue that the cost of the tariffs would be passed on to American consumers.

“Not only would sweeping tariffs raise costs at home and likely send our economy into recession, they would likely trigger significant retaliation, hurting American workers, farmers and businesses,” Representative Suzan DelBene said recently, D-Wash. in a statement.

At a press conference on Wednesday, Chinese Foreign Ministry spokesman Mao Ning told reporters that “We always believe that there is no winner in a trade or tariff war.” according to Reuters.

Trump has also said a 25 percent tariff will apply all products from Canada and Mexico for February

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Vice President JD Vance and Trump react on Trump’s presidential inauguration day in the rotunda of the US Capitol. (KEVIN LAMARQUE/POOL/AFP via Getty Images/Getty Images)

In late November, Trump wrote on his Truth Social account that he would implement these tariffs on January 20 as one of his first executive orders and that the tariffs “will remain in effect until such time as drugs, particularly the fentanyl, and all the illegal ones.” Aliens stop this invasion of our country!”

Those promised tariffs have yet to go into effect, but on Monday, Trump signed an executive order titled “America First Trade Policy.”

“The Secretary of Commerce, in consultation with the Secretary of the Treasury and the United States Trade Representative, will investigate the causes of our nation’s large and persistent annual merchandise trade deficits, as well as the economic and national security implications and risks arising out of such shortfalls and recommend appropriate measures, such as a global supplementary tariff or other policies, to address such shortfalls,” the order said.

Trump says Xi Jinping, China’s president, knows where he stands when it comes to tariffs. (Ton Molina/Bloomberg via Getty Images/Getty Images)

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“The Secretary of the Treasury, in consultation with the Secretary of Commerce and the Secretary of Homeland Security, shall investigate the feasibility of establishing and recommending the best methods for designing, constructing, and implementing an External Revenue Service (ERS) to collect fees , duties and other income related to foreign trade,” he adds.

Elizabeth Elkind of Fox News and Daniella Genovese of Fox Business contributed to this report.