Key Takeaways After President-elect Donald Trump said that he would enact tariffs on Mexico, Canada and China, those nations urged more talks before resorting to tariffs.Mexico warned it could respond with its own tariffs,

President-elect Donald Trump said he would impose the import tariffs — 25 percent for Canada and Mexico and 10 percent for China — as soon as he takes office.

While China could offset American tariffs by letting its currency fall, that might endanger Beijing’s recent efforts to stabilize the economy.