Trump's tariffs on China, Canada and Mexico take effect

Published On Mar 4, 2025, 12:01 AM

President Donald Trump's tariffs on imports from China, Canada, and Mexico have been implemented, increasing costs for U.S. importers. A 10% tariff is now imposed on certain Chinese goods, compounded by an earlier 10% tariff, while 25% tariffs have been levied on imports from Canada and Mexico, with the exception of Canadian oil, which has a lower 10% tariff. This situation is anticipated to provoke retaliatory tariffs from these countries on U.S. exports. For instance, Canada plans to impose tariffs on American machinery and agricultural products, and Mexico could impose tariffs on U.S. pork and various manufactured goods. Economic analysts predict these tariffs could lower the U.S. GDP by as much as 0.3%.