Srilanka, Feb. 2 -- US President Donald Trump has announced sweeping new tariffs on all goods imported from America's three largest trading partners, China, Mexico and Canada.
Trump said the US would impose tariffs beginning on Tuesday of 25% on Canada and Mexico, and 10% on China. Canadian energy faces a lower 10% tariff.
He had threatened to impose the import taxes if the three countries did not address his concerns about illegal immigration and drug trafficking.
Both Canada and Mexico said they are preparing retaliatory tariffs of their own.
Trump has indicated he is ready to escalate the duties if the countries retaliate.
Together, China, Mexico and Canada accounted for more than 40% of imports into the US last year.
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