President Donald Trump has followed through on his tariff threats, imposing a 25 percent tariff on goods imported from Mexico and Canada, while China will face an additional 10 percent tariff on top of the existing 10 percent tax. The move is expected to raise prices on a range of products in the US, including food, clothing, fuel, lithium batteries, and more.

The tariffs were initially announced in February, with Trump stating that they would "hold China, Mexico, and Canada accountable for their promises to halt the flood of poisonous drugs into the United States." However, Trump gave both Canada and Mexico a one-month extension to reach a potential agreement with the US, which ultimately did not materialize.

Canadian Prime Minister Justin Trudeau has already announced that Canada will retaliate with tariffs of its own, while Mexico has hinted at similar measures. China, meanwhile, has responded by imposing a 15 percent tariff on imports of US agricultural products, including chicken, wheat, corn, and cotton. The country has also added 15 American companies, including drone maker Skydio, to its export control list.

The tariffs are just the latest development in Trump's ongoing trade war, which has already seen the US impose tariffs on billions of dollars' worth of goods from China and other countries. The move has sparked concerns over the impact on the global economy, as well as the potential for retaliatory measures from affected countries.

Industry experts warn that the tariffs could have significant implications for US businesses and consumers, particularly in the tech sector. The tariffs on Chinese goods, for example, could drive up the cost of components used in electronics manufacturing, leading to higher prices for consumers. Similarly, the tariffs on Mexican and Canadian goods could impact the supply chains of US companies that rely on imports from these countries.

Despite the potential risks, Trump remains committed to his tariff strategy, which he believes will help to reduce the US trade deficit and protect American industries. However, critics argue that the tariffs are a blunt instrument that could ultimately harm US businesses and consumers, while failing to address the underlying issues driving the trade imbalance.

As the trade tensions continue to escalate, it remains to be seen how the situation will play out in the coming weeks and months. One thing is clear, however: the impact of Trump's tariffs will be felt far beyond the borders of the US, with significant implications for the global economy and trade landscape.