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Even as Elon Musk calls philanthropy ‘very hard,’ everyday Americans gave a record $617 billion—despite feeling the squeeze over the cost of living

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Even as Elon Musk calls philanthropy ‘very hard,’ everyday Americans gave a record $617 billion—despite feeling the squeeze over the cost of living

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Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs

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Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998
PoliticsTariffs

Trump says ‘its 10 plus 10’ as he doubles down by imposing another tariff on Chinese imports

By
Stuart Dyos
Stuart Dyos
Weekend News Fellow
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By
Stuart Dyos
Stuart Dyos
Weekend News Fellow
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February 28, 2025, 4:59 AM ET
President Donald Trump waits outside the White House for French President Emmanuel Macron.
President Donald Trump Tasos Katopodis—Getty Images
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  • President Donald Trump says he has not seen progress in slowing the flow of fentanyl. He announced an additional 10% duty on Chinese imports and declared that 25% tariffs on Mexico and Canada will take effect next week.

President Donald Trump plans to impose an additional 10% tariff on imports from China, as the deadly fight against fentanyl has not made substantial strides, he says.

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Trump told reporters in the Oval Office on Thursday that the latest tariffs on China would accumulate on top of the 10% tariff imposed on Feb. 4.

“It’s 10 plus 10,” Trump said in the Oval office. 

Additionally, Trump reaffirmed that he will proceed with 25% tariffs on Canadian and Mexican imports on March 4. 

In early February, Trump suspended the Canada and Mexico tariffs for 30 days to allow the countries to negotiate, but has now said that the two nations haven’t done enough to suppress the drug problem.

Trump was asked if he had seen progress in limiting the spread of fentanyl; he rejected the notion and said, “I don’t see that at all. No, not on drugs.”

In a post on Truth Social, Trump said that the supplemental tariffs on China will go into effect the same day as the tariffs on Mexico and Canada.

This proclamation comes a day after Trump told reporters that the Mexico and Canada tariffs were slated for April 2, but government officials reversed their stance and said a decision had not been made.

“As you know, he has his way of communicating, but as usual, we have a cool head and optimism that we can reach an agreement,” Mexican President Claudia Sheinbaum said in a press conference Thursday. 

The Chinese Embassy did not immediately respond to Fortune’s request for comment. 

According to the Centers for Disease Control, drug overdose deaths declined 24% to 87,000 in the U.S. between October 2023 to September 2024. 
“There are ongoing discussions with the Chinese, Mexico, and Canada,” a White House official said, Reuters reported. “We’ve gotten a good handle on the migration issue, but there are still concerns on the other issue of fentanyl deaths.”

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By Stuart DyosWeekend News Fellow

Stuart Dyos is a weekend news fellow at Fortune, covering breaking news.

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