Trump's trade war draws swift retaliation as Mexico, Canada and China impose tariffs on the US
Wine produced in the United States is removed from the shelves of an LCBO store, in response to tariffs imposed on Canadian goods by U.S. President Donald Trump, in Toronto on Tuesday March 4, 2025. (Chris Young/The Canadian Press via AP)
WASHINGTON (AP) — President Donald Trump launched a trade war Tuesday against America’s three biggest trading partners, drawing immediate retaliation from Mexico, Canada and China and sending financial markets into a tailspin as the U.S. faced the threat of rekindled inflation and paralyzing uncertainty for business.
Just after midnight, Trump imposed 25% taxes, or tariffs, on Mexican and Canadian imports, though he limited the levy to 10% on Canadian energy. Trump also doubled the tariff he slapped last month on Chinese products to 20%.
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