Trump 2nd term live updates: Trump defends tariffs, declines to comment on Ukraine aid

Within minutes of the new U.S. tariffs taking effect, China unveiled on Tuesday its initial response by placing additional 10% to 15% tariffs on imported U.S. goods, like chicken, wheat, soybeans and beef.

Those duties will be on top of similar tariffs imposed back during the first Trump administration’s trade war in 2018. Some of those tariffs are already at 25%, though Beijing issued some waivers as a result of the 2020 "phase one" trade deal.

The new tariffs are set to come into effect for goods shipped out next Monday, March 10.

Even though U.S. farmers are likely to feel the pinch, the Chinese response is being characterized as muted and contained compared to the breadth of Trump's sweeping tariffs on all Chinese goods. In the years since the first Trump administration, China has moved to diversify its imports, reducing its dependence on U.S. agricultural goods.

China also on Tuesday added 10 U.S. companies on their version of the Entity List, ostensibly for their activities in Taiwan. The companies appear to be mostly defense and intelligence related so they're unlikely to have to much of a footprint inside Mainland China.

Tuesday’s actions, however, may not be the end of Beijing’s retaliation.

China's once-a-year weeklong parliamentary session, the National People's Congress, opens Wednesday and is expected to roll out the country's economic plan for the year, including ways to safeguard its economy.

-ABC News’ Karson Yiu

President Donald Trump's broad tariffs on imported goods from Mexico and Canada went into effect on Tuesday, along with increased duties on goods from China, according to the White House.

"President Trump continues to demonstrate his commitment to ensuring U.S. trade policy serves the national interest," the White House said in a statement.

Goods entering the U.S. from Mexico and Canada will carry a 25% tariff, while those from China will be subject to a 10% increase on existing tariffs, according to the White House.

Vice President JD Vance hinted during an interview on Fox News' "Hannity" on Monday that there is still a chance to resume negotiations between the United States and Ukraine. He also said that President Donald Trump's administration is "already working" on a peace plan with the Russians.

Vance was asked if the administration would welcome Zelenskyy back if he were willing to come back to the negotiating table. Vance said yes -- if Zelenskyy was willing to seriously engage.

"I think that if he called and had a serious proposal for how he was going to engage in the process -- look, there are details that really matter, that we're already working on with the Russians," Vance said. "We've already talked to some of our allies. He needs to engage seriously on the details. I think once that happens, then absolutely, we want to talk."

The vice president implied that further engagement would require a consideration of the raw minerals deal that the U.S. was pursuing with Ukraine, claiming that it came with "real security guarantees."

"The security guarantee, and also the economic guarantee for Ukraine, is to rebuild the country and ensure that America has a long-term interest," Vance said, describing the minerals deal as America's "economic upside in the future of Ukraine."

-ABC News' Michelle Stoddart

President Donald Trump has been blocking off an hour or so of time most days this past week to prepare for his joint address to Congress, which will take place Tuesday evening in Washington, D.C.

A room was set up in the East Wing of the White House on Monday, consisting of a podium with teleprompters on each side for him to rehearse, sources told ABC News.

Trump was joined by senior White House staff during these rehearsals — specifically White House Chief of Staff Stephen Miller and his top speechwriter, Ross Worthington, according to sources. Vince Haley, the head of Trump's Domestic Policy Council, is also deeply involved in speech prep, they said.

The speech is not done; it continues to undergo revisions, sources said.

Trump is not expected to be seen publicly on Tuesday until he leaves the White House for his speech. He will continue to prepare for it from mid-afternoon onward, ahead of the planned address at 9 p.m. ET.

-ABC News' Katherine Faulders and Rachel Scott