


Officials in Canada and China announced retaliatory action early on Tuesday, after President Donald Trump’s 25% tariffs on all imports from Canada and Mexico went into effect after midnight, along with an additional 10% levy on Chinese goods—on top of a 10% tariff enacted last month.
President Donald Trump's 25% tariffs on all Canadian and Mexican imports went into effect at ... [+]
Chinese authorities announced 10-15% increases in import duties on several key American agricultural and food products and expanded export controls on 15 U.S. firms.
China’s finance ministry said an additional 15% tariff will be imposed on U.S. chicken, wheat, corn and cotton imports, while U.S. soybeans, sorghum, pork, beef, aquatic products, fruits and vegetables and dairy imports will face an additional 10% levy—both of which will go into effect on March 10.
In a separate announcement, China’s ministry of commerce announced it was expanding its export controls on dual use items—items which can be used for both civilian and military purposes—to target several U.S. defense contractors, including Leidos, General Atomics Aeronautical Systems and General Dynamics Land Systems.
Canadian Prime Minister Justin Trudeau announced that his country will respond to the Trump’s tariffs with 25% retaliatory duties against CAD 155 billion ($107 billion) of American goods.
Trudeau said tariffs on CAD 30 billion ($20.7 billion) worth of goods will go into effect immediately and tariffs on the remaining CAD 125 billion ($86.3 billion) American products will go into effect in 21 days—and both will remain in place “until the U.S. trade action is withdrawn.”
Earlier on Monday, Mexican President Claudia Sheinbaum said “composure, serenity, and patience” was needed and her country has a “Plan A, Plan B, Plan C, and even Plan D” in place, without offering much detail about the contingency plans.
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“The US's unilateral tariff increase damages the multilateral trading system, increases the burden on US companies and consumers, and undermines the foundation of economic and trade cooperation between China and the US,” the Chinese Finance Ministry said in its announcement.
This is a developing story.