<h1>Trump Imposes New Tariffs on Canada, Mexico, and China; Potential Inflation and Trade Tensions Loom</h1> President Donald Trump announced new tariffs on Canada, Mexico, and China, warning that Americans might experience 'some pain' from the resulting trade war. The tariffs, set to begin Tuesday, include a 25% tax on Canadian goods and a 10% tax on oil, natural gas, and electricity. Canada retaliated with tariffs on over $155 billion of U.S. products. Trump's actions threaten North American trade relations and could exacerbate inflation, a significant political issue. Both Canadian and Mexican leaders criticized the tariffs, while China plans to defend its interests through the World Trade Organization. Economic analyses suggest the tariffs could significantly impact U.S. households.