President Trump’s long-threatened tariffs against Canada and Mexico went into effect Tuesday, putting global markets on edge and setting up costly retaliations by the United States’ North American allies.

Canada is imposing 25% tariffs on C$30 billion worth of U.S. imports effective immediately, Prime Minister Justin Trudeau told reporters on Tuesday. Trudeau made the announcement just hours after U.S.

The Trump administration has implemented 25% tariffs on goods from Canada and Mexico, citing drug influx concerns, prompting retaliatory measures from Trudeau.