03/04/2025

Trump’s Tariffs against Canada and Mexico Go into Effect

Canada and China retaliate with their own tariffs on the U.S.

President Donald Trump's long-threatened tariffs against Canada and Mexico went into effect Tuesday, putting global markets on edge and setting up costly retaliations by the United States’ North American allies.

Starting just past midnight, imports from Canada and Mexico are now to be taxed at 25 percent, with Canadian energy products subject to 10 percent import duties.

The 10 percent tariff that Trump placed on Chinese imports in February was doubled to 20 percent, and Beijing retaliated Tuesday with tariffs of up to 15 percent on a wide array of U.S. farm exports. It also expanded the number of U.S. companies subject to export controls and other restrictions by about two dozen.

Please select this link to read the complete article from The Associated Press.