As US tariffs take effect, AP explains what tariffs are and how they work

Starting just past midnight, imports from Canada and Mexico are now to be taxed at 25%, with Canadian energy products subject to 10% import duties. The 10% tariff that Trump placed on Chinese imports in February was doubled to 20%, and Beijing retaliated Tuesday with tariffs of up to 15% on a wide array of U.S. farm exports. It also expanded the number of U.S. companies subject to export controls and other restrictions by about two dozen. Read more: https://bit.ly/4kijnBT

#tariffs #trump #usa #news

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Author: Associated Press
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