Global stock markets slumped following Trump’s announcement that he would proceed with 25% tariffs on Canada and Mexico, alongside additional 10% levies on Chinese imports. The three countries responded with retaliatory measures,

Canadian and Mexican imports to the United States will now by taxed at 25%, while duties on Chinese imports will be doubled to 20%.

Business executives have been in a state of limbo over Donald Trump's fluctuating plans to impose major tariffs since he took office in January. Tuesday's announcement does not end that uncertainty. U.