China announced Tuesday it will impose additional tariffs of up to 15% on imports of key U.S. farm products, including chicken, pork, soy, and beef.

The tariffs announced by the Commerce Ministry are due to take effect from March 10. They follow U.S. President Donald Trump’s order to raise tariffs on imports of Chinese products to 20% across the board. Those took effect on Tuesday.

Imports of U.S.-grown chicken, wheat, corn, and cotton will face an extra 15% tariff, it said. The tariff on sorghum, soybeans, pork, beef, seafood, fruit, vegetables, and dairy products will be increased by 10%.

Also Tuesday, Beijing placed 10 more U.S. firms on its unreliable entity list, which would bar them from engaging in China-related import or export activities and from making new investments in the country.

The firms include defense companies such as Lockheed Martin Missiles and Fire Control, Lockheed Martin Aeronautics, and Lockheed Martin Missile System Integration Lab.

Senior executives of these companies will also be banned from entering China and work permits, and Chinese visitor and residency permissions also will be revoked, the Commerce Ministry said.

The companies were placed on the list for selling arms to or cooperating on military technologies with Taiwan in recent years, the ministry said. China claims the self-governed island as its own territory.

The addition of the 10 companies comes after China last month added two firms, fashion company PVH Group and biotechnology company Illumina, to the unreliable entities list.

Separately, China added 15 U.S. companies to its export control list, including aerospace and defense companies like General Dynamics Land Systems and General Atomics Aeronautical Systems, among others.

“China has decided to include 15 U.S. entities that endanger China’s national security and interests in the export control list, prohibiting the export of dual-use items to them,” the ministry said in a statement

U.S. President Donald Trump's new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with a doubling of duties on Chinese goods to 20%, launching new trade conflicts with the top three U.S. trading partners.

The tariff actions, which could upend nearly $2.2 trillion in two-way annual U.S. trade went live at 12:01 a.m. EST (0501 GMT), hours after Trump declared that all three countries had failed to do enough to stem the flow of the deadly fentanyl opioid and its precursor chemicals into the U.S.

China after the deadline, announcing additional tariffs of 10%-15% on certain U.S. imports from March 10 and a series of new export restrictions for designated U.S. entities

Canada and Mexico, which have enjoyed a virtually tariff-free trading relationship with the U.S. for three decades, were poised to immediately retaliate against their longtime ally.

Canadian Prime Minister Justin Trudeau said Ottawa would respond with immediate 25% tariffs on C$30 billion ($20.7 billion) worth of U.S. imports, and another C$125 billion ($86.2 billion) if Trump's tariffs were still in place in 21 days. He said previously that Canada would target American beer, wine, bourbon, home appliances, and Florida orange juice.

"Tariffs will disrupt an incredibly successful trading relationship," Trudeau said, adding that they would violate the U.S.-Mexico-Canada free trade agreement signed by Trump during his first term.

Ontario Premier Doug Ford told NBC that he was ready to cut off shipments of nickel and transmission of electricity from his province to the U.S. in retaliation.

Mexican President Claudia Sheinbaum was expected to announce her response during a morning news conference in Mexico City on Tuesday, the country's economy ministry said.

STACKING CHINA TARIFFS

The extra 10% duty on Chinese goods adds to a 10% tariff imposed by Trump on February 4 to punish Beijing over the U.S. fentanyl overdose crisis. The cumulative 20% duty also comes on top of tariffs of up to 25% imposed by Trump during his first term on some $370 billion worth of U.S. imports.

Some of these products saw U.S. tariffs increase sharply under former president Joe Biden last year, including a doubling of duties on Chinese semiconductors to 50% and a quadrupling of tariffs on Chinese electric vehicles to over 100%.

The 20% tariff will apply to several major U.S. consumer electronics imports from China previously untouched by prior duties, including smartphones, laptops, videogame consoles, smartwatches and speakers, and Bluetooth devices.

China's new tariffs announced on Tuesday targeted a wide range of U.S. agricultural products including certain meats, grains, cotton, fruit, vegetables, and dairy products.

It also added 15 U.S. entities to its export control list and 10 U.S. entities to its unreliable entity list.

The commerce ministry earlier in the day said Washington mistakenly "shifted the blame" for its fentanyl crisis to Beijing.

The state-backed Global Times newspaper said on Monday Beijing's retaliation would most likely target U.S. agricultural and food products.

U.S. farmers were hard hit by Trump's first-term trade wars, which cost them about $27 billion in lost export sales and conceded a share of the Chinese market to Brazil.

RECESSION FEARS

The tariffs on Mexican and Canadian products could have much deeper repercussions for a highly integrated North American economy that depends on cross-border shipments to build cars and machinery, refine energy, and process agricultural goods.

"Today's reckless decision by the U.S. administration is forcing Canada and the U.S. toward recessions, job losses, and economic disaster," Canadian Chamber of Commerce CEO Candace Laing said in a statement.

She said the U.S. tariffs will fail to usher in a "golden age" coveted by Trump but instead raise costs for consumers and producers and disrupt supply chains. "Tariffs are a tax on the American people."

Matt Blunt, president of the American Automotive Policy Council representing Detroit automakers, called for vehicles that meet the U.S.-Mexico-Canada Agreement's regional content requirements to be exempted from the tariffs.

Even before Trump's tariffs announcement, U.S. data on Monday showed factory gate prices jumped to a nearly three-year high, suggesting that a new wave of tariffs could soon undercut production.

Trump's confirmation that the tariffs would proceed sent financial markets reeling with global stocks tumbling and safe-haven bonds rallying. Both the Canadian dollar and Mexican peso fell against the greenback.

PILING ON

Trump has maintained a blistering pace of tariff actions since taking office in January, including fully restoring 25% tariffs on steel and aluminum imports that take effect March 12, rescinding prior exemptions.

Trump's "America First" agenda, aimed at redrawing trade relationships in favor of the U.S., is expected to be a centerpiece of his Tuesday night address to a joint session of Congress.

Trump on Saturday opened a national security investigation into imports of lumber and wood products that could result in steep tariffs. Canada, already facing 14.5% U.S. tariffs on softwood lumber, would be hit particularly hard.

A week earlier, Trump revived a probe into countries that levy digital services taxes, proposed fees of up to $1.5 million on every Chinese-built ship entering a U.S. port, and launched a tariff investigation into copper imports.

These add to his plans for higher "reciprocal tariffs" to match the levies of other countries and offset their other trade barriers, a move that could hit the European Union hard.

President Donald Trump’s long-threatened tariffs against Canada and Mexico finally went into effect Tuesday, putting global markets on edge and setting up costly retaliations by the United States’ North American allies.

Starting just past midnight, imports from Canada and Mexico are now to be taxed at 25%, with Canadian energy products getting tariffed at 10%. In addition, the 10% tariff that Trump placed on Chinese imports in February is doubling to 20%.

In response, Canadian Prime Minister Justin Trudeau said his country would slap tariffs on more than $100 billion of American goods over the course of 21 days. Mexico and China didn’t immediately detail any retaliatory measures.

The U.S. president’s moves raised fears of higher inflation and the prospect of a devastating trade war even as he promised the American public that taxes on imports are the easiest path to national prosperity. He has shown a willingness to buck the warnings of mainstream economists and put his own public approval on the line, believing that tariffs can fix what ails the country.

“It’s a very powerful weapon that politicians haven’t used because they were either dishonest, stupid, or paid off in some other form,” Trump said Monday at the White House. “And now we’re using them.”

The Canada and Mexico tariffs were originally supposed to begin in February, but Trump agreed to a 30-day suspension to negotiate further with the two largest U.S. trading partners. The stated reason for the tariffs is to address drug trafficking and illegal immigration, and both countries say they’ve made progress on those issues. But Trump has also said the tariffs will only come down if the U.S. trade imbalance closes, a process unlikely to be settled on a political timeline.

There is the possibility of the tariffs being short-lived if the U.S. economy suffers, just as there is the possibility of more tariffs to come on the European Union, India, computer chips, autos, and pharmaceutical drugs, as Trump has promised. The American president has injected disorienting volatility into the world economy, leaving it off balance as people wonder what he’ll do next.

“It’s chaotic, especially compared to the way we saw tariffs rolled out in the first (Trump) administration,” said Michael House, co-chair of the international trade practice at the Perkins Coie law firm. “It’s unpredictable. We don’t know, in fact, what the president will do.’’

Democratic lawmakers were quick to criticize the tariffs, but even some Republican senators raised alarms.

Sen. Susan Collins, R-Maine, said she’s “very concerned” about the tariffs going into effect because of her state’s proximity to Canada.

“Maine and Canada’s economy are integrated,” Collins said, explaining that much of the state’s lobsters and blueberries are processed in Canada and then sent back to the U.S.

The world economy is now caught in the fog of what appears to be a trade war.

Even after Trump announced Monday that the tariffs were going forward, Canadian officials were still in touch with their U.S. counterparts.

“The dialogue will continue, but we are ready to respond,” Canadian Defense Minister Bill Blair said in Ottawa as he went into a special Cabinet meeting on U.S.-Canada relations. “There are still discussions taking place.”

Shortly after Blair spoke, Trudeau said Canada would put 25% tariffs against $155 billion Canadian ($107 billion U.S.) of American goods, starting with tariffs on $30 billion Canadian ($21 billion U.S.) worth of goods immediately and on the remaining amount on American products in three weeks.

“Our tariffs will remain in place until the U.S. trade action is withdrawn, and should U.S. tariffs not cease, we are in active and ongoing discussions with provinces and territories to pursue several non-tariff measures,” Trudeau said.

To resolve the tariffs being imposed Tuesday, the White House would like to see a drop in the seizures of fentanyl inside the United States, not just on the northern and southern borders. Administration officials say that seizures of fentanyl last month in everywhere from Louisiana to New Jersey had ties to foreign cartels.

Damon Pike, technical practice leader for customs and trade services at the tax and consulting firm BDO, suggested that how other countries respond to the tariffs with their own import taxes could escalate the tensions and possibly increase the economic pain points.

“Canada has their list ready,” Pike said. “The EU has their list ready. It’s going to be tit for tat.’’

The Trump administration has suggested that inflation will not be as bad as economists claim, saying that tariffs give a reason for foreign companies to open factories in the United States. On Monday, Trump announced that Taiwan Semiconductor Manufacturing Company, the computer chipmaker, would be investing $100 billion in domestic production.

Still, it can take time to relocate factories spread across the world and train workers with the skills they need.

Greg Ahearn, president and CEO of The Toy Association, said the 20% tariffs on Chinese goods will be “crippling” for the toy industry, as nearly 80% of toys sold in the U.S. are made in China.

“There’s a sophistication of manufacturing, of the tooling,” he said. “There’s a lot of handcrafting that is part of these toys that a lot of people don’t understand … the face painting, the face masks, the hair weaving, the hair braiding, the cut and sew for plush to get it to look just so. All of that are very high hands, skilled labor that has been passed through generations in the supply chain that exists with China.”

For a president who has promised quick results, Ahearn added a note of caution about how quickly U.S. factories could match their Chinese rivals.

“That can’t be replicated overnight,” he said.

D.C.’s revenue forecast takes a $1 billion turn after Trump’s federal job cuts.

Trump’s shake-up of the federal bureaucracy — executed by the U.S. DOGE Service and overseen by Elon Musk — is likely to have a disproportionate impact on D.C.