US President Donald Trump's long-threatened tariffs against Canada and Mexico went into effect on Tuesday, putting global markets on edge and setting up costly retaliations by the United States' North American allies.
Starting just past midnight, imports from Canada and Mexico are now to be taxed at 25 per cent, with Canadian energy products subject to 10 per cent import duties.
The 10 per cent tariff that Trump placed on Chinese imports in February was doubled to 20 per cent, and Beijing retaliated on Tuesday with tariffs of up to 15 per cent on a wide array of US farm exports. It also expanded the number of US companies subject to export controls and other restrictions by about two dozen.
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