New tariffs imposed by the US government are affecting trade with a neighboring country. A significant increase in tariffs, now at 50 percent, applies to certain imported goods. This change is expected to raise prices for consumers.

The tariffs cover a substantial amount of goods, valued at $20 billion. In response, the neighboring country's leader has announced plans to impose retaliating tariffs.

Further information on the impact of these tariffs and the ongoing trade situation is available, including a report from Ryan Marshall and previous coverage of stalled trade talks.