China retaliated with its own tariffs minutes after the US's tariffs went into effect on Tuesday.The quick but measured response suggests that China had prepared a strategy.Tariffs on Mexico and Canada were delayed by a month after both countries struck a deal with Trump.

Still, trade experts said they expect the China tariffs to increase prices paid by U.S. shoppers, since importers typically pass along a share of the cost of those higher taxes to consumers. The tariffs could hike prices for an array of goods, from curtains to saucepans to winter coats.