President Trump has confirmed that 25% tariffs on goods from Mexico and Canada will take effect on March 4, despite concerns about the trade war ramifications. Additionally, he vowed to double existing tariffs on China from 10% to 20%. The administration is pushing these tariffs as part of its ongoing effort to combat issues like drug trafficking, placing further strain on trade relations with neighboring countries. While the Canadian dollar experienced fluctuations in response to these announcements, Trump maintains that these measures are necessary and will proceed as planned.