As tariffs imposed by the Trump administration take effect, affecting Canada, Mexico, and China with 25% levies, the U.S. stock market faces significant declines, with the Dow dropping nearly 650 points. In response to the tariffs, both Canada and Mexico have announced their own retaliatory measures, intensifying the trade war. Experts warn that consumers may experience price hikes on essential goods, including groceries, as the economic landscape shifts. Canada’s Prime Minister Trudeau is set to address the nation amid rising tensions, while questions about the long-term impacts of these tariffs on the economy and global trade persist.