Trump declared an economic emergency in order to place duties of 10 percent on all imports from China and 25 percent on imports from Mexico and Canada — America’s largest trading partners — except for a 10 percent rate on Canadian energy,

New trade penalties against Canada, Mexico and China that President Trump plans to impose could mean higher inflation and possible disruptions to the global economy.

President Donald Trump on Saturday signed an order to impose stiff tariffs on imports from Mexico, Canada and China, drawing swift retaliation and an undeniable sense of betrayal from the country’s North American neighbors as a trade war erupted among the longtime allies.