DJT Tariffs on Canada and Mexico Take Effect, and Increase on China
Donald Trump’s slightly postponed tariffs against goods from Canada and Mexico, and increases on tariffs against China, took effect just after midnight.
Imports from Canada and Mexico are now subject to tariffs of 25%, except Canadian energy products have a 10% tariff. Canada announced that over the next three weeks it will impose retaliatory tariffs on goods from the USA.
The 10% tariff that began on imports from China in February became 20%. China immediately retaliated with 15% tariffs on imports of farm products from the USA, and added to its list of USA companies that are subject to export controls and constraints.
The USA’s dollar promptly weakened on international currency markets. The euro, British pound sterling and share prices in European defense companies are strengthening.
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