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I'm Taylor Riggs, and this is the Fox Business Rundown.

Monday, February 3rd, 2025. A global trade war may be on the horizon as Trump tariffs on Canada, Mexico and China have been signed and are set to take effect on Tuesday.

To Trump's point is that, you know, a lot of these countries have been taking advantage of U.S. trade policy,

and so they're trying to write that ship a little bit.

And I think, you know, having that conversation about tariffs is going to start to write that ship.

Now, over the weekend, President Trump signed multiple executive orders that will impose 25% tariffs

on a majority of imports from Canada and Mexico, along

with 10% tariff on imported goods from China. These are all set to take effect on Tuesday, February

4th. The administration has been adamant that they see these tariffs as necessary to show these

three nations that they need to step up

when it comes to stopping illegal immigration and smuggling a fentanyl into the United States.

Stepping off Air Force One this weekend, Trump told reporters that he will lift these tariffs once these

issues are addressed, along with any trade imbalances.

Canada's Prime Minister Trudeau said they will launch retaliatory tariffs in response.

China is already reportedly planning retaliations of their own.

Mexico was planning their retaliation.

However, on Monday morning, Mexican president posted on X,

...