As the Trump administration prepares to take power in Washington, businesses around the world need to ready themselves for U.S. actions that impose tariffs or other trade restrictions — and for the actions other countries might take in response. Donald Trump campaigned on a call for a general tariff of 10% to 20% on all imports — and 60% or more on goods imported from China. He has announced his intention to impose immediate 25% tariffs on Mexican and Canadian goods unless those countries take action on immigration, while adding an additional 10% to tariffs already extant in China.
