Trump’s Tariffs Are Now In Effect. They’ll Impact What Businesses Buy — And Sell You — Worldwide

TOPSHOT – US President Donald Trump signs an Executive Order on reciprocal tariffs in the Oval Office of the White House in Washington, DC, on February 13, 2025. Trump announced that he would impose “reciprocal tariffs” on trading partners, opening new fronts in his trade war. The move would match US tariff rates on imports to the levels that other countries impose on US goods. (Photo by ANDREW CABALLERO-REYNOLDS / AFP) (Photo by ANDREW CABALLERO-REYNOLDS/AFP via Getty Images)

NEW YORK (AP) — U.S. President Donald Trump’s long-threatened tariffs are here — plunging America into an escalating trade war with China, Canada and Mexico. Trump’s 25% tariffs on imports from Canada and Mexico went into effect Tuesday, along with a heightened 20% levy on Chinese goods. In response, all three countries announced retaliatory measures. Experts say businesses and consumers will feel the biggest impact. Companies big and small will face higher costs on the goods they buy from other countries — and, in turn, may have little recourse but to hike prices themselves. That means consumers could see more expensive price tags on a range of everyday purchases going forward.