President Trump has announced the implementation of a 25% tariff on imports from Canada and Mexico, which is set to take effect on Tuesday. This decision has triggered concerns about rising prices, particularly for gasoline and electricity, and sent stock markets into a downward spiral. Officials have suggested that the tariffs could affect a wide array of goods, with a particular impact expected in border regions. While some Canadian officials have criticized the move, asserting it could lead to decreased prosperity, U.S. Commerce Secretary has indicated that the tariffs will proceed despite ongoing negotiations. The looming tariffs are part of a broader strategy that may include additional tariffs on imports from China, causing further market instability.