News / Canada and Mexico eye retaliation as 25% tariffs come in

US tariffs of 25% are set to hit Canada and Mexico today, while those on Chinese goods have doubled, to 20%.

Despite some hope there would be a last-minute reprieve, Donald Trump said yesterday there was “no room left for Mexico or for Canada” to avoid tariffs.

“They’re all set. They go into effect tomorrow,” he said. The tariffs will affect more than $918bn-worth of US imports from Canada and Mexico.

The stock market plunged after the announcement, with the S&P 500 ...