US businesses brace for Trump's tariffs on Canada, Mexico and China to drive up costs

From an ice cream parlor in California to a medical supply business in North Carolina to a T-shirt vendor outside Detroit, U.S. businesses are bracing to take a hit from the taxes President Donald Trump imposed Saturday on imports from Canada, Mexico and China, America’s three biggest trading partners. The levies — 25% on Canadian and Mexican and 10% on Chinese goods — will take effect Tuesday. Canadian energy, including oil, natural gas and electricity, will be taxed at a lower 10% rate. Trump’s tariffs threaten to raise prices for consumers and is already provoking retaliation from Canada and Mexico.