President Donald Trump has finally made good on a campaign promise to raise tariffs on Chinese imports – announcing on Saturday duties of 10% on all Chinese goods coming in the country as part of sweeping trade measures that also targeted Mexico and Canada.

Financial markets that had bet trade wars could be avoided are reassessing the risks of a sharp global slowdown, resurgent inflation and a pause to Federal Reserve rate cuts following Donald Trump's tariffs on top U.

Canada initially ordered tariffs of 25% on American imports starting Tuesday, including beverages, cosmetics and paper products worth 30 billion Canadian dollars ($20 billion). Mexico has so far said only that it will impose retaliatory tariffs,