Trump’s executive order on tariffs on Chinese products is a blanket 10 percent tax on everything coming in from the country. His proposed plans for Canada and Mexico are similarly broad: everything imported into the US from these countries would get a 25 percent tax applied, except for Canadian oil, which would be pegged at 10 percent.

The tariffs President Donald Trump threatened against Canada, Mexico and China over the weekend roiled financial markets but they fall far short of duties the US would need to offset the cost of extending his expiring 2017 tax cuts,