President Donald Trump signed an order to put tariffs on U.S. neighbors Canada and Mexico, as well as China, starting Tuesday. Canada and Mexico quickly announced retaliatory tariffs, while China said it would take “necessary countermeasures.”
The business between the North American nations now exceeds China, totaling $1.8 trillion in 2023. That is far greater than the $643 billion in commerce that the U.S. did with China in that same year.
Trump declared an economic emergency Saturday in order to place duties of 10% on all imports from China and 25% on imports from Mexico and Canada. Energy imported from Canada, including oil, natural gas and electricity, would be taxed
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