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Companies trading with key global partners will need to navigate evolving tariff frameworks, including actions from China and Canada.

On March 4, 2025, the Trump administration’s previously announced tariffs on imports from Canada and Mexico went into effect following a 30-day pause. Separately, on March 3, President Trump issued an executive order titled “Further Amendment to Duties Addressing the Synthetic Opioid Supply Chain in the People’s Republic of China” that increases previously imposed tariffs on Chinese products from 10% to 20%. Canada, Mexico, and China have all stated that they will impose retaliatory trade measures — with China and Canada already taking action.

Canada

  • On February 1, 2025, in an executive order titled “Imposing Duties to Address the Flow of Illicit Drugs Across Our Northern Border,” President Trump ordered that products from Canada would be subject to a general 25% tariff, with energy products facing a 10% tariff. The tariffs were set to take effect on February 4. The order also states that the tariffs could be adjusted or expanded, particularly if Canada retaliates with its own trade measures.
  • On February 3, 2025, in an executive order titled “Progress on the Situation at Our Northern Border,” President Trump announced a pause on the new tariffs until March 4.
  • On March 4, 2025, the tariffs on Canadian goods went into effect.
  • That same day, Canada retaliated with 25% tariffs on $30 billion in goods imported from the United States. The full list of products, available here, cuts across industries and includes meat and food products, alcoholic beverages, furniture, lighting, kitchenware, textiles, apparel, footwear, and a range of industrial and consumer goods such as machinery, tools, and vehicles.

Mexico

  • On February 1, 2025, in an executive order titled “Imposing Duties to Address the Situation at Our Southern Border,” President Trump ordered that products from Mexico be subject to a general 25% tariff. The tariff was set to take effect on February 4. The order also states that the tariff could be adjusted or expanded, particularly if Mexico retaliates with its own trade measures.
  • On February 3, 2025, in an executive order titled “Progress on the Situation at Our Southern Border,” President Trump announced a pause on the new tariffs until March 4.
  • On March 4, 2025, the 25% tariff on Mexican goods went into effect.
  • Mexican President Claudia Sheinbaum has stated that retaliatory tariffs will be announced on March 9.

China

  • On February 1, 2025, in an executive order titled “Imposing Duties to Address the Synthetic Opioid Supply Chain in the People’s Republic of China,” President Trump ordered that products from China be subject to a 10% tariff. The tariff went into effect on February 3. In response, China imposed tariffs on select US imports and announced other retaliatory actions such as enhanced export controls and investigations of US businesses.
  • On March 3, 2025, in the executive order “Further Amendment to Duties Addressing the Synthetic Opioid Supply Chain in the People’s Republic of China,” the administration increased previously imposed tariffs on Chinese products from 10% to 20%.
  • In response, China announced tariffs on US food and agricultural products and added certain American companies to its export and investment control lists.

What’s Next?

  • March 9, 2025: Mexico is set to announce retaliatory trade measures.
  • March 12, 2025: A 25% tariff on global steel imports (announced in a proclamation on February 10) and a 25% tariff on global aluminum imports (announced in a proclamation on February 11) are set to take effect.
  • April 2, 2025: The administration has signaled that additional unspecified tariffs will be imposed on agricultural imports and foreign cars.