Trump's tariffs on Canada, Mexico and China suggest he is willing to risk a global trade war. The main thing that could stop him would be a stock market selloff.

The president’s trade assault, which makes no distinction between ally and adversary, is an assertion of U.S. dominance with significant risks.

Business groups, economists and even some Republicans cautioned that new tariffs on goods from Canada, Mexico and China could undercut U.S. industry and the economy.

U.S. futures and global stocks were hit by a selloff early on Monday as markets around the world braced for a potential trade war triggered by President Donald Trump’s decision to impose sweeping tariffs on imports from Canada, Mexico, and China—which he acknowledged will cause “some pain” for American consumers.

Shares in Europe and Asia have fallen after US President Donald Trump announced tariffs on Canada, Mexico and China, and said tariffs on the EU would "definitely happen". The German and French stock markets were down about 2%, with shares in carmakers among the worst hit, while London's FTSE 100 dropped more 1%.

Canada’s prime minister and Mexico’s president have ordered retaliatory tariffs against Americans, following through with their threats after U.S.

President Donald Trump took action Saturday to impose new tariffs on Canada, Mexico and China, the White House said, which could have a sweeping impact on the American economy. The additional tariffs on Canadian and Mexican goods will be 25 percent,

President Donald Trump has pushed into new trade law territory with an emergency sanctions law to justify punishing 25% tariffs on Canadian and Mexican imports and an extra 10% duty on Chinese goods to curb fentanyl and illegal immigration into the U.