The US has paused planned 25 percent tariffs on Canada and Mexico after stock markets fell heavily.

With the 10 percent tariff on Chinese goods still going into effect, China has announced its own retaliatory tariffs.

Donald Trump
– Gage Skidmore

US President Donald Trump said that tariffs on its two neighbors would be paused for at least a month after both countries promised to send troops to the border to stop the flow of fentanyl into America.

Canada, which makes up only 0.2 percent of US border fentanyl seizures, had already promised to significantly increase its border controls in December.

Both Mexico and Canada have also paused their levies that were planned in retaliation.

Chinese tariffs, however, are still going ahead. Trump’s 10 percent tariff across all Chinese imports into the US came into effect at 12:01 am ET on Tuesday.

Minutes later, China’s Finance Ministry said it would impose levies of 15 percent for US coal and LNG and 10 percent for crude oil, farm equipment, and the automotive industry, starting on 10 February.

The country will also impose export controls on tungsten, tellurium, ruthenium, molybdenum, and ruthenium-related items to “safeguard national security interests."

China has also opened an antitrust investigation into Google, claiming it is suspected of violating anti-monopoly laws.