New U.S. Tariffs and Retaliation 10% tariff imposed on Chinese goods. China retaliates with tariffs on U.S. crude oil, agricultural machinery, and LNG. Additional Chinese export restrictions and investigations into U.S. tech firms. 25% tariffs planned on Mexican and Canadian imports, later delayed by a month. Mexico agrees to strengthen border security; Canada pledges to combat drug trafficking. 2. Industries Affected Automobile Sector: Higher import costs could increase car prices and impact production. Retail & Consumer Goods: Rising import prices may lead to inflation and higher costs for shoppers. Financial Markets & Cryptocurrency: Stock market fluctuations and a crypto downturn due to economic uncertainty.