Trump is leveraging tariffs. Is he ready for potential fallout? Are consumers? Here's what to know
President Donald Trump has taken executive action to impose or threaten new tariffs on imports from Canada, Mexico and China
ATLANTA — President Donald Trump has taken executive action to impose or threaten new tariffs on imports from Canada, Mexico and China.
The moves fulfill certain campaign promises but also have roiled stock markets and supply chains, while testing relations with the country's North American neighbors and, in China's case, the world's second-largest economy.
But Trump is also declaring initial victories as Mexican and Canadian leaders agreed to more cooperation on border control.
Unlike during the 2024 campaign, when Trump billed his economic agenda as guaranteed to reduce the cost of living for Americans, the Republican president now is acknowledging what many economists have long forecasted: that his approach could yield higher prices and lower supplies across a roiled U.S. market.
Here are things to know about Trump’s actions, the counters from U.S. trading partners and what it means for American consumers:
Trump initially declared an economic emergency to place duties of 10% on all imports from China and 25% on imports from Mexico and Canada. Energy imported from Canada, including oil, natural gas and electricity, would be taxed at 10%. The targeted countries are the United States' three largest trading partners.
The levies on China were still slated to go into effect Tuesday.
But on Monday, Trump and the leaders of Mexico and Canada announced deals to forestall a potential trade war for 30 days as both U.S. neighbors agreed to placate the American president by boosting efforts to boost border security and combat drug trafficking. In Mexico, President Claudia Sheinbaum committed specifically
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