President Donald Trump announced that tariffs on Canada and Mexico will commence, proposing broad 25% tariffs on goods from each country. This decision comes after a month-long delay during which both nations increased border security efforts. Following the announcement, the Dow Jones and S&P 500 experienced significant drops, marking a downturn since Trump’s election. These tariffs could lead to increased consumer costs, notably in the auto industry where new cars might see price hikes of thousands of dollars. — news from The Washington Post
