Trump’s tariffs on Canada, Mexico take effect as Beijing hits back, WSJ reports

President Donald Trump’s 25% tariffs on goods from Mexico and Canada took effect first thing Tuesday, while Canada responded with plans to impose 25% tariffs on nearly $100B of U.S. imports, The Wall Street Journal reports. The U.S. also introduced an extra 10% tariff on Chinese imports overnight, adding to a 10% tariff imposed a month ago, and other existing duties, according to the report. In response, China announced retaliatory tariffs on U.S. food and farm goods, and other measures against American companies, while Beijing filed a lawsuit with the World Trade Organization challenging the new tariffs.Publicly traded companies in the farm space include Andersons (ANDE), Archer Daniels (ADM), Bunge (BG), CF Industries (CF), Compass Minerals (CMP) and Intrepid Potash (IPI). Publicly traded food stocks include Kellogg (K), Kraft Heinz (KHC) (KHZ), Performance Food Group (PFGC), Mondelez (MDLZ), McDonald’s (MCD), Yum! (YUM), Tyson Foods (TSN), J.M. Smucker (SJM), General Mills (GIS), Starbucks (SBUX), and Campbell Soup (CPB).