KEY TAKEAWAYS President Donald Trump's 25% tariffs on Canada and Mexico, and the doubling of levies on goods from China, took effect Tuesday—and Beijing and Ottawa immediately hit back.In response to the additional 10% in tariffs imposed by the U.

Canada and China swiftly announced retaliatory tariffs against the U.S. on Tuesday, shortly after long-threatened levies by the Trump administration on those countries and Mexico took effect.

President Donald Trump’s blanket 25% tariffs on Mexico and Canada took effect on Tuesday, an extraordinary action aimed at bringing America’s top trading partners to heel. But it threatens to weaken the North American economy,