US businesses brace for Trump's tariffs on Canada, Mexico and China to drive up costs (1 Viewer)

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    Paul Wiseman | The Associated Press

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    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 imposed Saturday on imports from Canada, Mexico and China — America’s three biggest trading partners.

    The levies — 25% on Canadian and Mexican and 10% on Chinese goods – will take effect Tuesday. Canadian energy, including oil, natural gas and electricity, will be taxed at a lower 10% rate.

    Mexico’s president immediately ordered retaliatory tariffs...

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