As US tariffs take effect, AP explains what tariffs are and how they work

Starting conscionable past midnight, imports from Canada and Mexico are present to beryllium taxed astatine 25%, with Canadian vigor products taxable to 10% import duties. The 10% tariff that Trump placed connected Chinese imports successful February was doubled to 20%, and Beijing retaliated Tuesday with tariffs of up to 15% connected a wide array of U.S. workplace exports. It besides expanded the fig of U.S. companies taxable to export controls and different restrictions by astir 2 dozen.