US businesses brace for Trump’s tariffs on Canada, Mexico and China to drive up costs

WASHINGTON (AP) — From an ice cream parlor in California to a medical supply business in North Carolina to a T-shirt vendor outside Detroit, U.S. businesses are bracing to take a hit from the taxes President Donald Trump has imposed on imports from Canada, Mexico and China, America’s three biggest trading partners. The levies of 25% on Canadian and Mexican and 10% on Chinese goods that Trump imposed Saturday will take effect Tuesday. Canadian energy including oil, natural gas and electricity will be taxed at a lower 10% rate. Trump’s tariffs threaten to raise prices for consumers. Mexico’s president has ordered retaliatory tariffs and Canada’s prime minister says the country will put matching 25% tariffs on up to $155 billion in U.S. imports.