President Donald Trump’s long-awaited tariffs on Canada and Mexico have gone into effect, while U.S. levies on China doubled.
Beginning on March 4, goods imported from the North American neighbors will be slapped with 25 percent tariffs, the president confirmed.
Last year, the U.S. economy imported nearly $1 trillion worth of goods from the nation’s two top trading partners.
Trump issued an executive order amending the existing 10 percent across-the-board tariffs on China early last month, raising them to 20 percent from March 4. This will affect more than $400 billion worth of Chinese goods.
Hopes for a last-minute pivot were dashed when the president confirmed to the press at a March 3 White House event that there was “no room left for Mexico or for Canada.”…