Trump’s 25% tariffs take effect; Canadian PM calls it “a very dumb thing”

From left: Melanie Joly, Canada's foreign minister; Justin Trudeau, Canada's prime minister; Dominic LeBlanc, Canada's finance and intergovernmental affairs minister; and David McGuinty, Canada's minister of public safety, during a news conference in Ottawa, Ontario on Tuesday, March 4, 2025. Credit: Getty Images | Bloomberg

President Trump's 25 percent tariffs on Canada and Mexico took effect today, and the White House increased a tariff on China from 10 to 20 percent in an executive order. Canada, Mexico, and China announced retaliatory moves, and stock markets sank globally.

Industry groups and companies have warned the Trump tariffs will raise prices for cars, groceries, consumer technology, and other products.

Canada was hit with a 10 percent tariff on energy exports to the US, while other Canadian exports are subject to the 25 percent tariff. Prime Minister Justin Trudeau said his country would impose 25 percent tariffs on over ...