President Donald Trump has finally made good on a campaign promise to raise tariffs on Chinese imports – announcing on Saturday duties of 10% on all Chinese goods coming in the country as part of sweeping trade measures that also targeted Mexico and Canada.

Trump's tariffs on Canada, Mexico and China suggest he is willing to risk a global trade war. The main thing that could stop him would be a stock market selloff.

These aren’t tariffs, they’re taxes, in this case, trade taxes. And these trade taxes aren’t going to be paid by China or Canada. They will be paid by American companies—like Walmart, which imports apparel,