Trade wars erupt as Trump hits Canada, Mexico, China with steep tariffs
(VOVWORLD) - US President Donald Trump's new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with a doubling of duties on Chinese goods to 20%, launching new trade conflicts with the top three US trading partners.
 Trucks wait in line to cross into the United States near the border customs control at the World Trade Bridge, in Nuevo Laredo, Mexico, November 26, 2024. (REUTERS/Daniel Becerril/File Photo) |
China responded immediately after the deadline, announcing additional tariffs of 10%-15% on certain US imports from March 10 and a series of new export restrictions for designated US entities.
Canadian Prime Minister Justin Trudeau said Ottawa would respond with immediate 25% tariffs on more than 20 billion USD worth of US imports, and another 86 billion USD if Trump's tariffs were still in place in 21 days.
Mexican President Claudia Sheinbaum was expected to announce her response during a morning news conference in Mexico City on Tuesday, the country's economy ministry said.
China's new tariffs announced on Tuesday targeted a wide range of US agricultural products including certain meats, grains, cotton, fruit, vegetables and dairy products.
Beijing also placed 25 US firms under export and investment restrictions on national security grounds. China's commerce ministry said the U.S. tariffs violated World Trade Organization rules and "undermine the basis for economic and trade cooperation between China and the US."