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.

The U.S. imposed 25% tariffs on Mexico and Canada early Tuesday morning, along with imposing an additional 10% tariffs on Chinese imports. The 25% tariffs will apply to all imports from Mexico and Canada,

President Donald Trump said Monday 25% tariffs on Mexico and Canada will be implemented Tuesday and another 10% against China. U.S. stocks tumbled after the announcement. Canada announced equal reciprocal tariffs,