The ongoing trade war initiated by President Trump has intensified recently, with significant new tariffs imposed on imports from Canada and Mexico, raising recession concerns among economists. As detailed in an official statement from Customs and Border Protection, the tariffs are now in effect, prompting strong reactions from Canadian Prime Minister Justin Trudeau, who criticized the decision as reckless and detrimental to both economies. Financial markets are already feeling the repercussions, with the S&P 500 erasing previous gains and the Dow Jones Industrial Average experiencing a sharp decline of nearly 700 points. Analysts predict that these tariffs could lead to increased prices for groceries and cars, with some estimates suggesting a potential annual cost of $1.4 billion for Colorado alone. Amidst escalating tensions, both Canada and Mexico are retaliating, and experts warn that the long-term impacts could threaten the stability of the U.S. economy.