US tariffs on Canada, Mexico, China products become affective 

United States President Donald Trump’s new 25 percent tariffs on imports from Mexico, Canada and China have taken effect.

The tariff actions, which could upend nearly $2.2 trillion in two-way annual US trade, went live at 00:01 EST (05:01 GMT) on Tuesday. 

Earlier, Trump declared that all three countries had failed to do enough to stem the flow of the deadly opioid fentanyl and its precursor chemicals into the US.

In pushing ahead with the duties, Trump cited a lack of progress in tackling the flow of drugs like fentanyl into the United States.

The duties stand to impact over $918 billion worth of US imports from both countries.

Trump also inked an order Monday to increase a previously imposed 10 percent tariff on China to 20 percent -- piling atop existing levies on various Chinese goods.

Beijing condemned the "unilateral imposition of tariffs by the US" and swiftly retaliated, saying it would impose 10 and 15 percent levies on a range of agricultural imports from the United States, from chicken to soybeans.

Those tariffs will come into effect next week.

Economists caution that tariffs could raise consumer prices while weighing on growth and employment.
Asian markets fell on opening Tuesday, with Japan's Nikkei index dropping more than two percent and Hong Kong's Hang Seng down 1.5 percent after Trump's latest tariff actions.