Summary
Donald Trump imposed 25% tariffs on imports from Canada and Mexico and 10% on China, citing drug trafficking and immigration concerns.
Canada and Mexico announced retaliatory tariffs, with Canada targeting $155 billion in U.S. goods and Mexico planning 25% tariffs on American products.
Economists warn the tariffs could raise consumer prices, especially in the auto, food, and housing sectors. China condemned the move and plans to file a WTO lawsuit.
Analysts suggest Trump may adjust the tariffs based on political and economic pressures.
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