Donald Trump’s introduction of his long-threatened 25 percent trade tariffs on Mexico and Canada has caused global stock markets to drop sharply, with the Dow Jones, S&P 500 and Nasdaq all falling.
Investors, fearful of a trade war erupting, had hoped the president might relent in his promise to penalize imports from the nation’s two biggest trading partners.
Instead, Trump told reporters at the White House on Monday that there was “no room left for Mexico or for Canada,” adding: “The tariffs, they’re all set. They go into effect tomorrow.”
The president also said that he would impose an extra 10 percent tariff on China, on top of the previous 10 percent tariff he introduced last month, with Beijing already retaliating.
The unease has already led to warnings that the U.S. could be heading for recession, with the Atlanta Fed’s GDPNow model estimating real GDP growth for the first quarter of 2025 at -2.8 percent, down from +3.9 percent just four weeks ago.
Trump has meanwhile moved to suspend aid to Ukraine after his feud with Volodymyr Zelensky escalated.
He will deliver the first joint congressional address of his second presidency on Tuesday evening.
Live: Justin Trudeau announces Canada’s response to Trump’s tariffs
You can watch a livefeed of the Canadian PM’s remarks below.
Joe Sommerlad4 March 2025 15:25
Stock markets see sluggish opening as Wall Street reacts to Trump’s new tariffs on Mexico and Canada
Here’s Kelly Rissman with the very latest on the markets as the president’s tariffs on some of the United States’s largest trading partners take effect.
Joe Sommerlad4 March 2025 15:20
Truth Social: Trump attacks Canadian banking sector
Here’s the latest from the president as his trade war gets off to a rollicking start:
Joe Sommerlad4 March 2025 15:05
Melania Trump makes passing jibe at Democrats at Capitol Hill roundtable
The first lady was surprised and frustrated that Democratic lawmakers ignored a roundtable meeting on Capitol Hill on Monday discussing a bill making its way through Congress that would criminalize the sharing of intimate photos online without the subject’s consent.
The bill, called the “Take It Down Act,” would criminalize the sharing of intimate photos on the internet without the subject’s consent, which is colloquially known as “revenge porn.”
Victims of revenge porn have experienced having their nude or otherwise private photos shared widely online.
It’s unclear if the “Take It Down Act” would have stopped Congresswoman Marjorie Taylor Greene from sharing nudes of Hunter Biden in front of Congress without his consent.
Rather than calling out a member of Congress for engaging in the very actions she’s advocating to criminalize, the first lady instead expressed her disappointment that more Democrats didn’t attend the roundtable.
Joe Sommerlad4 March 2025 14:50
‘New American Dream’: What is Trump going to say in his congressional address tonight?
Here’s James Liddell on how Trump’s big speech is likely to play out.
Joe Sommerlad4 March 2025 14:25
A very different Marco Rubio once vowed that the U.S. would defend Ukraine
Trump’s secretary of state Marco Rubio has said that the administration should do just about anything to get Russian President Vladimir Putin to the negotiating table to reach a deal on the Ukraine war.
But just over a decade ago, the same man spoke passionately about America’s moral imperative to defend Ukraine against aggression after the nation gave up its nuclear stockpile following the fall of the Soviet Union.
Here’s more from Mary Papenfuss.

Watch Marco hail US vow to defend Ukraine after it gave up its nuclear arms
Secretary of State Marco Rubio has said that the Trump administration should do just about anything to get Russian President Vladimir Putin to the negotiating table to reach a deal on the Ukraine War — even though Putin has reportedly already been talking to Donald Trump for weeks without Ukraine.
Joe Sommerlad4 March 2025 14:00
First lady’s office releases list of special guests to tonight’s joint session of Congress
Melania Trump will be bringing the following people to her husband’s sort-of State of the Union address this evening and offers the following introduction to each:
Elliston Berry from Aledo, TX: Elliston is a 15-year-old who was the victim of computer-generated deepfakes created by a bully at her school intended to humiliate and degrade Elliston and her friends.
The Comperatore Family from Sarver, PA: Helen, Allyson, and Kaylee are the widow and daughters of Corey Comperatore, a firefighter who was killed by the gunman who also shot President Trump during a campaign rally in Butler, Pennsylvania in July 2024.
Jeff Denard from Decatur, AL: Jeff has spent nearly three decades working at a steel plant owned by Nucor Steel. His good paying, middle class job at the steel plant has allowed Jeff to serve as volunteer firefighter, provide a loving home to dozens of foster children, and organize his fellow steelworkers to respond to natural disasters, including Hurricane Helene.
Stephanie Diller from Long Island, NY: Stephanie is the widow of Jonathan Diller, an NYPD officer who was murdered at a traffic stop in Queens in March 2024 by a repeat criminal who was allowed to roam the streets.
Haley Ferguson from Spring Hill, TN: Haley is a former foster child, a senior at Middle Tennessee State University majoring in Elementary Education, and a Fostering the Future scholarship recipient, which was launched by the First Lady’s organization, Be Best.
Marc and Malphine Fogel from Butler, PA: Marc is an American history teacher who was held hostage by the Russian government and wrongfully sentenced to 14 years in a Russian prison. On February 12th, President Trump fulfilled his promise to Malphine, Marc’s 95-year-old mother, that he would bring Marc home.
January Littlejohn from Tallahassee, FL: January is a mother and parents’ rights advocate who sued the School Board of Leon County after school officials at her daughter’s middle school socially transitioned her daughter to a different sexual identity without January and her husband’s knowledge or permission. The school drove a wedge between January’s daughter and her parents, and deceived January about their covert plan to transition her daughter.
Payton McNabb from Murphy, NC: Payton is a former high school athlete who had her dreams of competing in college sports crushed in a September 2022 volleyball match when a biological man playing on the opposing women’s team spiked the volleyball at Payton’s face, leaving her with a traumatic brain injury. Payton joined with the Independent Women’s Forum and has made it her mission to put an end to this brutal unfairness.
Allyson and Lauren Phillips from Woodstock, GA: Allyson and Lauren are the mother and sister of Laken Riley, a young female nursing student who was murdered by an illegal alien during a morning jog. The Biden administration apprehended and released Laken’s murderer into the country under its reckless open border policies. The very first bill President Trump signed into law this year was named in Laken’s honor.
Alexis Nungaray from Houston, TX: Alexis is an angel mom and the mother of Jocelyn Nungaray, a 12-year-old girl who was murdered by two illegal aliens during a walk to a corner store. The Biden administration apprehended and released these vicious illegal aliens into the country just weeks before Jocelyn’s murder.
Roberto Ortiz from Weslaco, TX: Roberto has served with U.S. Border Patrol for nearly a decade, and is a veteran of the U.S. Navy and California State Guard. He has been shot at repeatedly by cartel members while performing his duties near the Rio Grande River in Texas.
Joe Sommerlad4 March 2025 13:40
Voices: What really lies behind Trump’s unbridled fury with Zelensky
“The Donald’s” anger with his Ukrainian counterpart goes beyond the personal, writes Sam Kiley.
It shows a global shift in strategy from the U.S. away from Ukraine and towards the Kremlin.
Joe Sommerlad4 March 2025 13:20
Democrats condemn Trump’s pause on aid to Ukraine as Zelensky hit with vicious attacks on X
While Democrats were condemning the president’s decision to pause military aid to Kyiv yesterday, Volodymyr Zelensky was being peppered with hostile messages on Elon Musk’s X.
“You are leading your people to the slaughter!” said one person responding to the news.
“Good riddance!” said another.
Many repeated Trump’s false claims about Zelensky being a dictator, or offered conspiracy theories about the nature of the war.
Joe Sommerlad4 March 2025 13:00
Truth Social: Trump threatens to stop funding schools and colleges that allow ‘illegal protests’
The president’s first post of the morning sees him insisting that any demonstration against his administration and orders is inherently illegitimate and should be punished. Scary.
Joe Sommerlad4 March 2025 12:50