President Donald Trump’s tariffs on Mexican and Canadian imports went live at 12:01 am on Tuesday.
The 25 percent tariffs on imports from America’s neighbors were joined by an additional ten percent duty on Chinese goods, bringing that total to 20 percent. Reuters says the tariff actions launched new conflicts with the top three U.S. trading partners and may interrupt more than $2 trillion in two-way trade.
China immediately responded, implementing additional 10-15 percent tariffs on certain U.S. imports and a series of new export restrictions for designated U.S. companies. Canadian Prime Minister Justin Trudeau said Ottawa would respond with immediate 25 percent tariffs on $21 billion worth of U.S. imports and another $86.2 billion if the tariffs are still in place in 21 days.
“Tariffs will interrupt a very successful trading relationship,” said Trudeau, adding that they violate the U.S.-Mexico-Canada Free Trade Agreement signed during Trump’s first term.
-NAFB
