Elon Musk has confirmed that the price of a key product will skyrocket in the wake of Donald Trump’s looming 10% tariff threat on Chinese imports. In the latest twist in the ongoing trade dispute, the billionaire acknowledged the economic ripple effects of the tariff, which is part of Trump’s strategy to combat the flow of illegal drugs, such as fentanyl, into the United States.
The price surge follows Trump’s declaration that these tariffs would remain in place until China takes more serious action to curb the illegal drug trade.
What is Fentanyl?
According to the United States Drug Enforcement Administration, “Fentanyl is a potent synthetic opioid drug approved by the Food and Drug Administration for use as an analgesic (pain relief) and anesthetic.” The drug is likely 100 times more potent than “morphine and 50 times more potent than heroin as an analgesic.” These products are often recognised by their street titles such as Apace, China Girl, China Town, Dance Fever, Friend, etc.
Fentanyl, like other opioids, causes effects such as euphoria, pain relief, sedation, and respiratory depression. However, an overdose can lead to life-threatening symptoms like stupor, pinpoint pupils, clammy skin, coma, and respiratory failure.
"This Tariff will remain in effect until such time as Drugs, in particular, Fentanyl, and all Illegal Aliens stop this Invasion of our Country,” Trump said in a statement threatening to impose a 25% Tariff on Canada and Mexico and a 10% additional Tarrif on China.
{{/usCountry}}"This Tariff will remain in effect until such time as Drugs, in particular, Fentanyl, and all Illegal Aliens stop this Invasion of our Country,” Trump said in a statement threatening to impose a 25% Tariff on Canada and Mexico and a 10% additional Tarrif on China.
{{/usCountry}}Following this, the Tesla owner took to his X handle to comment on Trump's reposted statement from Truth Social, writing, 'The price of fentanyl will rise sharply."
Donald Trump’s full statement on Tarrif plans in Mexico, Canada, and China
On November 25, echoing his past sentiments on tariff plans, Trump declared that once he takes office in January, "one of my first Executive Orders will be to sign all necessary documents imposing a 25% tariff on ALL products coming into the United States, and its ridiculous open borders." He added, “Both Mexico and Canada have the absolute right and power to easily solve this long-simmering problem.”
"We hereby demand that they use this power, and until such time that they do, it is time for them to pay a very big price," Trump said.
Accusing China of failing to stop the overwhelming drug flow in the country, he said, "I have had many talks with China about the massive amounts of drugs, in particular, Fentanyl, being sent into the United States – But to no avail," Trump said.
Also read: Trump threatens to impose sweeping new tariffs on Mexico, Canada and China on first day in office
However, according to Reuters, there has been gradual, yet noticeable, progress to curb the illicit trade of chemicals used to make fentanyl, following an agreement between Xi and Biden to renew joint efforts last year. Since fentanyl is a big reason for deaths in the U.S., the country has been pushing China to step up its game in enforcing the law, focusing on cracking down on illegal money and putting more restrictions on the chemicals used.
Trump highlighted his frustration and disappointment over China’s failure to enforce its promise of imposing the death penalty on drug dealers, leading to a continued flood of drugs, particularly fentanyl, entering the U.S., primarily through Mexico, at unprecedented levels. "Until such time as they stop, we will be charging China an additional 10% Tariff, above any additional Tariffs, on all of their many products coming into the United States of America," he added.