threat of rekindled inflation and paralysing uncertainty for business. Just after midnight, Trump imposed 25 per cent taxes, or tariffs, on Mexican and Canadian imports, though he limited the levy to 10 per cent on Canadian energy. Trump also doubled the tariff he slapped last month on Chinese products to 20 per cent. Beijing retaliated with tariffs of up to 15 per cent on a wide array of US farm exports. It also expanded the number of US companies subject to export controls and other restrictions by about two dozen. Canadian Prime Minister Justin Trudeau said his country would plaster tariffs on more than $100 billion of American goods over the course of 21 days.