<h1>US Tariffs on Canada and Mexico Trigger Retaliatory Measures, Sparking Trade War Fears; China Also Escalates Tariffs.</h1> US tariffs on Canada and Mexico have taken effect, with Canada and Mexico retaliating against the US. Imports from Canada and Mexico are now taxed at 25%, with Canadian energy products facing 10% duties. China also increased tariffs on US goods following a previous hike by the US. Canada announced tariffs on over $100 billion of US goods, while Mexico plans similar measures. The tariffs, aimed at addressing trade imbalances and issues like drug trafficking, have sparked fears of a trade war and economic instability. Despite negotiations, the US insists on maintaining tariffs unless trade imbalances are resolved.