Donald Trump raises China tariffs to 20%, confirms 25% duties on Mexican, Canadian imports starting Tuesday

The Trump administration has announced that 25% tariffs on Mexico and Canada will go into effect on Tuesday, as confirmed by Trump himself. This decision comes after officials initially suggested lower tariff levels, but Trump remained resolute in following through with the higher rate. According to Trump, the tariffs are intended to pressure Mexico and Canada to step up their efforts in combating fentanyl trafficking. However, it is also noted that Trump wants to address the trade imbalance with both countries. The US has also decided to increase tariffs on China from 10% to 20% as part of this move.