At 12:01 AM Eastern time Friday, the United States plans to increase tariffs from 10% to 25% on Chinese imports. Trump and Beijing plan to talk prior to the tariff hike sometime today. China has stated they will retaliate if the tariff hike goes through.
If the tariff increase goes through, both the U.S. and China's imports and exports will likely be affected by both the tariff hike and retaliatory measures that may be taken on either side.
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If Donald Trump wants his new US-Mexico-Canada Trade Agreement to be enacted, he may have to lift the aluminum and steel tariffs imposed on Mexico and Canada. The nations, along with US lawmakers, are pushing Trump to eliminate the tariffs if he wants the agreement to be approved.
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