Stock markets around the world tanked after US President Donald Trump ordered tariffs on Canada, China, and Mexico.
The tariffs on foreign trade partners were imposed on Saturday, with Mexico and Canada now forced to pay a 25% duty on most exports to the US, and China 10%.
Canada quickly retaliated with its own 25% tariff on US imports, while Mexico said it would also respond in kind, The New York Times wrote. Trump also vowed that import taxes on EU goods could happen “pretty soon,” the BBC reported.