Donald Trump has imposed a 25% duty on imports from Canada and Mexico and doubled tariffs on Chinese goods to 20%. He says that all three countries have failed to do enough to stem the flow of the deadly opioid fentanyl. These measures could disrupt over $2.2 trillion in trade. China immediately retaliated, announcing new tariffs on US agricultural products and export restrictions on 25 American firms, including those linked to arms sales to Taiwan. Canada and Mexico also pledged countermeasures, with Canada targeting US goods such as beer, wine, and home appliances. Ontario premier Doug Ford even suggested halting nickel shipments and electricity exports to the USA. China, already facing heightened tariffs on semiconductors and electric vehicles, expressed frustration, accusing the US of violating trade agreements. With trade tensions escalating, global markets remain uncertain as major economies brace for economic fallout.