Trump Enacts New Tariffs on China, Mexico, and Canada, Escalating Trade Tensions

The U.S. President doubles tariffs on Chinese imports to 20% and imposes 25% tariffs on goods from Mexico and Canada, sparking economic and political repercussions.

• President Trump has ordered an increase in tariffs on Chinese imports from 10% to 20%, citing the continued smuggling of fentanyl into the U.S. from China.
• New 25% tariffs on imports from Mexico and Canada are set to take effect, with no room for last-minute negotiations, according to Trump.
• China has responded to U.S. tariffs with countermeasures, including duties on American coal, oil, and agricultural machinery, heightening fears of a renewed trade war.
• The tariffs have caused significant market reactions, with the Dow Jones and Nasdaq indices dropping to their lowest levels since Trump's election.
• Trump has also announced plans to impose tariffs on agricultural imports starting April 2, though details on scope and exemptions remain unclear.

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