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.

Washington

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

Global Tariffs

The recent implementation of new tariffs signifies a major shift in trade dynamics between the United States and its top trading partners, Canada, Mexico, and China. These tariffs include a 25% levy on imports from Canada and Mexico, and an increase to 20% on specific Chinese goods. This action follows accusations from U.S. President Donald Trump regarding the failure of these countries to curb the flow of fentanyl into the United States. In retaliation, China has announced its own tariffs targeting U.S. agricultural products, notably soybeans, meats, and cotton.

The repercussions of these tariffs are significant, with expectations of a substantial impact on the North American economy, which has historically enjoyed largely tariff-free trade. As markets reacted to these developments, both the Canadian dollar and Mexican peso weakened against the U.S. dollar, and shares in companies with production operations in Mexico, such as General Motors and Ford, experienced sharp declines.

Experts like Chris Brigatti from the Southwest Business Corporation predict that U.S. consumers will bear the brunt of these new tariffs, with expected increases in the cost of goods and services. Canadian Prime Minister Justin Trudeau has announced plans to retaliate with tariffs of their own, valued at approximately $107 billion of U.S. goods. As the situation unfolds, stock markets and bond yields across Asia have shown declines, highlighting the broader implications of these new trade measures.



Trade wars erupt as Trump hits Canada, Mexico, China with tariffs

Fresh trade wars kicked off Tuesday between the U.S. and its top three trading partners, Canada, Mexico and China, with new steep tariffs from Washington taking effect and triggering retaliation. On Monday night, U.S. President Donald Trump accused all three targeted countries of failing to stop the flow of fentanyl into the U.S. Just after midnight on the U.S. East Coast, Canadian and Mexican goods were hit with tariffs of 25 percent, and Trump's new tariffs on Chinese goods were doubled by an extra 10 percent to a cumulative 20 percent. Those new tariffs will apply to some major consumer electronics imported by the U.S., previously untouched by prior duties, including laptops, video game consoles and Bluetooth devices. On Tuesday, China announced its own tariffs of 10 to 15 percent, mostly targeting U.S. agriculture like soybeans, meats and cotton, and added new export restrictions for designated U.S. entities. Speaking to reporters Tuesday, a Chinese parliamentary spokesperson said China was willing to resolve U.S. concerns through consultation and dialogue, but will not accept threats and oppression. Meanwhile, U.S. tariffs on goods from Mexico and Canada will likely cause deeper repercussions for the highly integrated North American economy. Canada and Mexico have for decades enjoyed a virtually tariff-free trading relationship with the U.S. After Trump confirmed tariffs would proceed, financial markets reeled and global stocks tumbled. Both the Canadian dollar and Mexican peso fell against the U.S. dollar. Automaker shares fell sharply, especially for major firms General Motors and Ford, who have production lines in Mexico. Speaking to Reuters, Chris Brigatti, chief investment officer of Southwest Business Corporation, says consumers will bear the brunt of Trump's tariffs. The tariff situation and its effect on the domestic U.S. economy are really a bigger concern now that we have a more aggressive stance coming out of Washington. And that being said, the stagflation issue is rearing its head. And stagflation is quite simply a stagnant or, if not rising, a stable inflation rate, but a declining economic base. And I expect these specific tariffs to be damaging to the economy while increasing the prices of goods and services. Canadian Prime Minister Justin Trudeau said on Monday Ottawa would hit back with 25% tariffs on up to about $107 billion worth of U.S. goods. Mexico's economy ministry said President Claudia Shinbom is expected to announce her response Tuesday. On Tuesday, markets responded to the news with stocks falling and bond yields sliding across Asia and Japan's Nikkei closing down 1.2 percent. 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.

ABC said that the late-night show "Jimmy Kimmel Live!" has been "pre-empted indefinitely" after comments Kimmel made on the show in response to the shooting death of conservative activist Charlie Kirk. Jonathan Vigliotti reports.

New York

ABC suspends Jimmy Kimmel show over Charlie Kirk comments

In southern Pennsylvania, three police officers were fatally shot and two others were injured in a violent incident. Authorities are investigating the circumstances surrounding the attack and searching for leads on the suspect or suspects involved.

Haar Road

Three police officers killed, two wounded in Pennsylvania shooting

Nvidia chief executive Jensen Huang said the U.S. and Beijing "have larger agendas to work out" after media reports of China's internet regulator ordering top tech firms to halt purchases of the American company's AI chips and cancel existing orders.

Beijing

China tells tech firms to stop buying Nvidia's AI chips, FT reports

The U.S. Federal Reserve announced that it lowered interest rates by 0.25 percentage points, its first rate cut since December 2024. CBS News MoneyWatch correspondent Kelly O'Grady has more.

Fed cuts interest rates by 0.25 percentage points

Large-scale protests took place in central London in response to Trump’s state visit, with demonstrators highlighting his alleged ties to Jeffrey Epstein.

London

Trump's historic UK state visit met with protests in Windsor

On the same day a ground offensive was launched in Gaza City, a United Nations Commission of Inquiry report concluded Israel has committed genocide in Gaza, a finding emphatically denied by Israeli officials.

Jerusalem

Middle East Conflict

Israel committing genocide in Gaza, UN inquiry finds

Yulia Navalnaya, the wife of late Russian opposition leader Alexei Navalny, said that foreign laboratory tests on biological samples obtained from her husband showed that he was poisoned.

Yulia Navalnaya says foreign tests show her husband was poisoned

Prosecutors formally changed Tyler Robinson, the suspect in the assassination of Charlie Kirk, and said they intend to seek the death penalty. Authorities also revealed exchanges between Robinson and his roommate.

Utah County

Prosecutors formally charge Charlie Kirk shooting suspect

U.S. President Donald Trump and first lady Melania Trump arrived at Windsor Castle and were greeted by King Charles III, Queen Camilla, Prince William and Kate, the Prince and Princess of Wales. CBS News' Ed O'Keefe has the latest.

Windsor

Trump greeted by British royal family at Windsor Castle

The eyes of the global financial markets are on the US Federal Reserve. It's expected to be cut later on Wednesday, around a quarter-point. But US President Donald Trump has called repeatedly for much steeper rate cuts.

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The U.S. Secretary of State has visited Qatar a week after Israel attacked a meeting of the Hamas negotiating team in Doha. Marco Rubio met Qatar's Prime Minister and the Emir, Sheikh Tamim Bin Hamad Al Thani.

Doha

Marco Rubio visits Doha, holds talks with Emir and PM

Utah County Attorney Jeff Gray provided updates Tuesday on the case against Tyler Robinson, the 22-year-old accused of fatally shooting Charlie Kirk. Robinson is charged with seven counts, including aggravated murder. The state is seeking the death penalty.

Charlie Kirk shooting suspect charged with murder

A judge has dismissed two state terrorism-related charges against Luigi Mangione, the 27-year-old accused of killing UnitedHealthcare CEO Brian Thompson last December. CBS News' Anna Schecter has more details.

Luigi Mangione's state terrorism charges dismissed in CEO killing

Israel said it has launched its ground offensive in Gaza City. It comes as a United Nations inquiry finds that Israel's nearly two-year war on Gaza is a genocide. Israeli leaders have denounced the report as "distorted and false."

Israel launches main phase of ground offensive in Gaza City

U.S. President Donald Trump becomes the first U.S. president to receive a second state visit as Britain faces protests over immigration and growing support for the pro-Trump Reform Party. CBS News correspondent Ed O'Keefe reports from London.

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U.S. President Donald Trump announced Monday (Sept. 15) the U.S. military carried out a second strike against an alleged Venezuelan drug boat. CBS News' Charlie D'Agata has the latest.

Caracas

Trump announces second U.S. strike on alleged Venezuelan drug boat

U.S. President Donald Trump threatened investigations into the ‘radical left,’ following the shooting death of Charlie Kirk. Vice-President J.D. Vance on Kirk’s podcast encouraged people to turn in those who celebrated the conservative commentator’s killing.

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The United States and China reached a framework agreement to switch short-video app TikTok to U.S.-controlled ownership, U.S. officials said.

Washington County

U.S., China reach framework deal on TikTok

U.S. Secretary of State Marco Rubio met in Jerusalem with Israeli Prime Minister Benjamin Netanyahu, as close U.S. ally Qatar gathered other Arab nations' leaders for a summit to issue unified condemnation of last week's Israeli airstrike targeting Hamas leaders in the Qatari capital.

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President Trump announced the U.S. military has carried out a second strike on alleged Venezuelan "narcoterrorists" in international waters. Three men were killed.

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Arab and Islamic leaders are gathering in Qatar for an emergency summit following an Israeli attack on Hamas leaders in Doha. The meeting aims to show unity and increase pressure on Israel.

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HBO's medical drama, "The Pitt" beat out heavily-favored Apple TV's "Severance" for outstanding drama series at the Emmy Awards. Meanwhile, Apple TV's "The Studio" walked away with 13 awards and broke the Emmy record for the most wins by a comedy in a single season.

Los Angeles

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U.S. Secretary of State Marco Rubio arrived in Israel on Sunday to meet with Prime Minister Benjamin Netanyahu and other officials amid the nation's recent strike in Doha, Qatar, and intensified attacks in Northern Gaza.

Israel hosts U.S. Secretary of State Marco Rubio

Over the weekend, tens of thousands of people marched through London in a rally billed as in support of free speech. Many of the chants and speeches at the rally, which was organized by a far-right activist, were protesting against immigration.

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U.S. and Chinese officials concluded a first day of talks in Madrid on their strained trade ties, a looming divestiture deadline for Chinese short-video app TikTok, amid Washington's demands that its allies place tariffs on imports from China over its purchases of Russian oil.

Madrid

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Police are searching for a motive in Wednesday's killing of conservative activist and influencer Charlie Kirk. Authorities say interviews with family and friends of the 22-year-old suspect suggest he could have been radicalized in the dark corners of the internet.

Orem

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U.S. Secretary of State Marco Rubio said ahead of the trip that he will be seeking answers from Israeli officials about how they see the way forward in Gaza. Rubio's trip comes after Israel's attack on Hamas leaders in Qatar that upended efforts to broker an end to the conflict.

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Five U.S. F-35 fighter jets landed in Puerto Rico amid escalating tensions with Venezuela. Separately, Caracas said 18 armed U.S. Navy personnel raided a tuna boat sailing in Venezuelan waters.

San Juan

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U.S. President Donald Trump said he believes the Russia-Ukraine war would end if all NATO countries stopped buying oil from Russia and placed tariffs on China of 50 percent to 100 percent for its purchases of Russian petroleum.

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U.S. Secretary of State Marco Rubio arrived in Israel on Sunday, as Israel intensified its attacks against northern Gaza. The trip is taking place after President Donald Trump rebuked Israel over the unprecedented attack against Hamas leaders meeting in Doha.

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