The announcement by U.S. President Donald Trump to impose tariffs of 25% on imports from Canada and Mexico, and 10% on imports from China, caused sharp disturbances in global financial markets. As a result, the Canadian dollar fell to its lowest level since 2003, dropping by 1.4% to reach 1.4792 against the U.S. dollar.

Additionally, the Mexican peso decreased by more than 2% to 21.15 against the U.S. dollar, while the euro dropped by 1% against the dollar. These declines come amid fears of a potential global trade war that could negatively impact the international economy.

In swift reactions, Canada and Mexico announced plans to impose retaliatory tariffs on U.S. goods. Canadian Prime Minister Justin Trudeau stated that his country would impose a 25% tariff on U.S. products valued at 155 billion Canadian dollars (approximately 106.6 billion U.S. dollars), and would begin applying tariffs on goods valued at 30 billion dollars starting today, followed by additional tariffs on goods valued at 125 billion dollars within 21 days.

For its part, Mexican President Claudia Sheinbaum pledged to impose similar tariffs on U.S. imports, with details of her plans to be announced later.

These developments come amid rising trade tensions between the United States and its key partners, raising concerns about negative impacts on global economic growth and increased inflation rates.