Donald Trump said Tuesday during the first presidential press conference of his second term that he wants to make a deal with Chinese President Xi to crack down on fentanyl smuggling: PRESIDENT DONALD TRUMP: People are getting killed and families are being destroyed.

In an operational alert, the Financial Transactions and Reports Analysis Centre of Canada says there is reason to believe people are depositing and withdrawing funds at online casinos to disguise proceeds from the traffic in deadly fentanyl and other opioids as wagers and winnings.

President Donald Trump is considering changing a key U.S. trade benefit to other nations, the "de minimis" exemption on import tariffs, as he accuses China of unfair trade practices and blames it for a crisis over the deadly drug fentanyl.

President Donald Trump said a 10% tariff on China could probably come as soon as February 1, "based on the fact that they're sending fentanyl to Mexico and Canada." Trump spoke during an event at the White House on Tuesday.

United States President Donald Trump recently threatened to impose an additional 10 per cent tariff on goods coming from China in response the illegal import into the U.S. of the opioid fentanyl. Fentanyl has become the latest battleground in an ongoing trade war between the world’s two largest economies.

US President Donald Trump had threatened 60% tariffs on Chinese goods on his campaign trail.

Two Chinese citizens are standing trial in New York for charges related to the illicit fentanyl trade in a landmark case as officials aim to crack down on the movement of the deadly drug and its components from China to the United States.

This week, the mercurial magnate said 10% tariffs on all Chinese imports could kick in on Feb. 1 -- and on the campaign trail touted a levy as high as 60%.

Big beneficiaries of de minimis include online retailers that ship goods mainly from China, such as Shein, PDD Holdings-owned Temu and Alibaba's AliExpress. Their growth prompted U.S. rival Amazon to start its own discount service, Haul, allowing marketplace merchants to ship $5 accessories and other items directly from China using de minimis.

The soon-to-be 47th president, who will be sworn in on Monday, voiced interest in traveling to China within his first 100 days in office.

China's stocks and currency took a hit as President Trump reignited tariff rhetoric against Beijing, citing fentanyl imports. Emerging markets responded with varied movements, anticipating potential global economic impacts.