U.S. Tariffs Set to Target North American Neighbors and China

U.S. Commerce Secretary Howard Lutnick announced tariffs on Canada and Mexico will commence on Tuesday, with levels set by President Trump. A significant tariff hike from 10% to 20% on China is also anticipated, unless China's fentanyl trafficking into the U.S. ceases.

In a recent interview, U.S. Commerce Secretary Howard Lutnick revealed that tariffs targeting Canada and Mexico are on track to be implemented Tuesday. These tariffs' precise levels will be decided by President Donald Trump.

Additionally, President Trump plans to increase tariffs on imports from China, escalating them from the current 10% to 20% on March 4. This move aims to pressure China to put an end to fentanyl trafficking into the United States.

Lutnick's announcement underscores the ongoing trade tensions and the administration's strategy to leverage tariffs in addressing international issues.

(With inputs from agencies.)