President Trump’s tariffs on China, Canada, and Mexico—25% on imports from Canada and Mexico, 20% on Chinese goods—have triggered a full-scale trade war. Retaliatory tariffs from these nations threaten higher consumer prices, economic losses, and supply chain disruptions. Key industries like retail, agriculture, and automotive face significant risks. Experts warn of GDP decline and inflation, while uncertainty looms over whether tariffs will persist or force policy reversals.
