China on Tuesday announced retaliatory tariffs and export controls, as President Donald Trump's tariffs on goods from China, Canada and Mexico went into effect

U.S. Commerce Secretary Howard Lutnick said in an interview on Bloomberg TV that tariffs will remain at 25 per cent, but some categories of goods might be exempted

The tariff actions, which could upend nearly $2.2 trillion in two-way annual U.S. trade, went live hours after Trump declared that all three countries had failed to do enough to stem the flow of the deadly fentanyl opioid.