TRUMP: Trade war erupts as Trump hits Canada, Mexico, China

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On Tuesday, new 25% tariffs imposed by U.S. President Donald Trump on imports from Mexico and Canada came into effect, alongside a hike in duties on Chinese goods, raising them to 20%. These moves have sparked new trade tensions with the top three trading partners of the U.S.

The tariff actions, which could impact approximately $2.2 trillion in annual trade between the U.S. and these countries, were implemented at 12:01 a.m. EST (0501 GMT), shortly after Trump announced that the three countries had not done enough to combat the flow of deadly fentanyl and its precursor chemicals into the U.S.

China responded swiftly after the deadline, revealing additional tariffs of 10%-15% on certain U.S. imports starting March 10, along with new export restrictions targeting U.S. entities.

Canada and Mexico, both of which have had nearly tariff-free trade with the U.S. for the past three decades, were ready to retaliate.

Canadian Prime Minister Justin Trudeau stated that Canada would impose 25% tariffs on C$30 billion ($20.7 billion) worth of U.S. imports immediately, with the possibility of increasing this to C$125 billion ($86.2 billion) if Trump’s tariffs remained in place for 21 days. Trudeau mentioned that Canadian targets would include U.S. beer, wine, bourbon, home appliances, and Florida orange juice.

“These tariffs will disrupt a successful trade relationship,” Trudeau said, adding that the new measures would violate the U.S.-Mexico-Canada trade agreement that Trump had signed during his first term.

In response, Ontario Premier Doug Ford indicated readiness to halt shipments of nickel and electricity to the U.S.

Mexican President Claudia Sheinbaum was expected to announce her response during a news conference in Mexico City on Tuesday.

The additional 10% tariff on Chinese goods, which complements the 10% tariff Trump had imposed on February 4 to address the U.S. fentanyl crisis, brings the total duty on these items to 20%. This comes on top of the 25% tariffs Trump had previously levied during his first term on about $370 billion worth of U.S. imports.

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