President Donald Trump said the U.S. will impose 25% tariffs on imports from Canada and Mexico on Tuesday.
Trump is also imposing an additional 10% tariff on imports from China.
China announced Tuesday it would impose additional tariffs of up to 15% on some U.S. goods from March 10 and restrict exports to 15 U.S. companies.
The retaliatory measures from China’s Ministry of Finance and Ministry of Commerce came just as additional U.S. tariffs took effect on Chinese goods.
After the first round of new U.S. tariffs in February, China’s retaliatory measures included raising duties on certain U.S. energy imports and putting two U.S. companies on an unreliable entities list that could restrict their ability to do business in the Asian country.
Canada will impose 25% tariffs on C$155 billion ($107 billion) worth of U.S. goods from Tuesday if U.S. President Donald Trump’s administration follows through with its proposed tariffs on Canadian goods, Prime Minister Justin Trudeau said on Monday.
Canada will slap 25% tariffs on C$30 billion worth of U.S. goods from Tuesday, while tariffs on the remaining C$125 billion of products will come into effect in 21 days, Trudeau said in a statement.
Source CNBC
