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In a move poised to raise prices for Americans and kick off an indefinite trade war, President Donald Trump<\/strong> signed<\/a> an order Saturday night to impose stiff tariffs on imports from Mexico, Canada, and China. The tariffs will go into effect on Tuesday.<\/p>\n The move, which Trump declared a national emergency to make, places a 10% duty on all imports from China and 25% on imports from Mexico and Canada<\/a>. Energy imported from Canada, including oil, natural gas, and electricity, will have a 10% tax rate. The president, who has said<\/a> that tariff is \u201cthe most beautiful word<\/a>,\u201d also included a mechanism to increase these rates should other countries retaliate against the tariffs\u2014queuing up a potential snowball effect.<\/p>\n The US Chamber of Commerce called the decision \u201cunprecedented\u201d in a statement<\/a> on Saturday, adding that it will \u201conly raise prices for American families and upend supply chains.\u201d The Tax Foundation, the world\u2019s leading independent tax policy nonprofit, estimates an average tax increase<\/a> of more than $830 per US household in 2025. A new analysis by the Budget Lab at Yale puts that number even higher, saying<\/a> the average American household would lose the equivalent of $1,170 in income as a result.<\/p>\n