The White House announced on Monday that it will impose increased tariffs on China, citing the ongoing fentanyl crisis in the U.S. as the driving force behind the move.

China will impose additional tariffs of up to 15% on some U.S. goods, its government said, while Canada vowed tariffs of up to 25% after new U.S. tariffs on both countries took effect.

Canadian Prime Minister Justin Trudeau announced late Monday night that Canada “will respond with 25 per cent tariffs against $155 billion of American goods” as a result of Trump’s action.

China and Canada hit back swiftly after Trump's sweeping trade tariffs took effect at midnight U.S. time Tuesday, escalating fears of a global trade war. International markets, meanwhile, continued to slide amid growing uncertainty.

U.S. President Donald Trump's new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with a doubling of duties on Chinese goods to 20%, launching new trade conflicts with the top three U.

President Trump's new tariffs on products from China, Canada and Mexico took effect Tuesday, with 25% tariffs on Canadian and Mexican goods plus an extra 10% tariff on Chinese goods.