A tariff battle between the United States and China has begun, with new tariffs against the country being implemented overnight — and retaliatory tariffs being slapped onto U.S. goods.
China has announced tariffs of 10% to 15% on some U.S. products. Those tariffs are scheduled to take effect on Feb. 10.
This follows the 10% U.S. tariff on goods imported from China that went into effect at 12:01 a.m.
Meanwhile, U.S. tariffs on Canada and Mexico are paused for 30 days.
President Donald Trump reached separate deals with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum on border security – aiming to stem the flow of organized crime and drugs into the U.S.
“They've agreed to put 10,000 soldiers, permanently, like forever, 10,000 soldiers at their side of the border and stop fentanyl," Trump said.
Massachusetts Representative and House Minority Whip Katherine Clark was skeptical of Trump's stragedy.
“It's limited to 30 days and it's exactly what Mexico did during the first Trump Administration, so we already know this solution will not help us with long-term border security," Clark said.
So what could Chinese tariffs mean for you?
Analysts say, things like the cost of food and fuel would go up, along with the price of new smart phones and laptops.
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