China’s exports to developing markets have soared, opening indirect routes to the U.S. market that officials in Beijing worry may be closed under pressure from President Trump.

The 25% tariffs on all goods from Canada and Mexico join an additional 10% increase in tariffs on goods from China, making that now a 20% tax on imported goods from that trading partner.

Congress avoided a government shutdown Friday evening, after the Senate passed legislation that funds the federal government through September at spending levels similar to the 2024 fiscal year.

President Trump suspended tariffs for both countries after Mexico’s leader presented her security successes, and after U.S. markets fell and business leaders urged the White House to change course.

Canadian Foreign Minister Mélanie Joly has issued a stark warning following Donald Trump’s decision to raise trade tariffs, criticizing the U.S. president for his aggressive economic policies. Trump had initially threatened to impose a 50%

President Trump is locked in a tit-for-tat tariff war with Canada, Mexico, the European Union and China in a bid to remake the US economy for the long term – and some early winners and losers have already emerged.