Here’s where things stand:
1. The U.S. has imposed 25% tariffs on Canada and Mexico.
2. The U.S. has also set 10% tariffs on China.
3. Canada has retaliated with 25% tariffs on the U.S..
4. Mexico is preparing its own countermeasures against the U.S..
But the bigger question remains—how will China respond? They've been unusually quiet so far, and their next move could shift the entire landscape.