Trump Increases Tariffs on Chinese Goods to 20% and Expands Trade Restrictions

The U.S. president targets China, Canada, Mexico, and agricultural imports in a sweeping tariff escalation tied to fentanyl trafficking and economic protectionism.

President Donald Trump signed a decree raising tariffs on Chinese imports to 20%, citing China's failure to curb fentanyl trafficking into the U.S.
Tariffs of 25% on most Canadian and Mexican goods, excluding Canadian energy products taxed at 10%, are set to take effect on March 4, 2025.
Trump announced new tariffs on agricultural imports starting April 2, encouraging American farmers to increase domestic production.
The European Union may face future tariffs of 25% as Trump continues his protectionist trade agenda, prompting potential retaliation from European leaders.
Concerns grow among U.S. consumers and industries about inflation and supply chain disruptions resulting from the tariffs, with Canada and Mexico signaling possible countermeasures.