US President Donald Trump announced that 25% tariffs on goods imported from Mexico and Canada will begin on Tuesday, with no possibility of any further extension. This declaration caused a significant downturn in Wall Street stocks, as indicated by the Dow Jones Industrial Average plummeting by as much as 800 points. In contrast, European defense stocks experienced a surge earlier on Monday, as leaders committed to increase military spending amid uncertainties regarding the US’s dedication to supporting Ukraine.

Source: https://www.france24.com/en/tv-shows/business/20250303-trump-confirms-25-tariffs-on-canada-and-mexico-will-kick-in-on-tuesday