U.S. President Donald Trump announced that new tariffs on Mexico, Canada, and China would take effect on March 4, citing inadequate progress on stopping fentanyl trafficking.

Axar.az, citing Reuters, reports that the measures include a 25% tariff on Mexican and Canadian goods and an additional 10% duty on Chinese imports on top of existing tariffs.

The decision signals a hardening stance towards China, with the Trump administration releasing an “America First” investment memo, accusing China of exploiting U.S. firms for technological and military gain. The U.S. is also reviewing Chinese firms' stock listings, which could wipe $848 billion from U.S. markets.

China has not engaged in fentanyl-related negotiations but has imposed limited retaliatory duties.

Trump's move could further strain relations, particularly as China grapples with an economic slowdown and the U.S. deals with inflation concerns.

Meanwhile, Mexican and Canadian officials are in talks with their U.S. counterparts to avoid the tariffs, which could disrupt North American trade. Mexico has hinted at retaliatory measures, while Canada argues it has strengthened border security and drug enforcement.