Welcome to Meet the Press now. I'm Kristen Welker, and that was the closing bell on Wall Street,

where the Dow ended the day down more than 650 points.

It shed more than 3% over the last two days.

As President Trump makes good on his promise to impose sweeping new tariffs on Canada, Mexico, and China.

The United States' largest trading partners. China and Canada immediately

announced retaliatory measures. Mexico says it will announce its response this weekend. It all comes

as President Trump prepares to deliver the biggest address of his second term just hours from now

in front of a joint session of Congress where he is expected to make a fiery case for his sweeping

agenda. In the run-up to those remarks, the economic fallout from an escalating trade war,

including potential job losses and inflation is taking center stage. Here's Canadian Prime Minister

Justin Trudeau this afternoon vowing revenge and calling the president's tariff move, quote,

a very dumb thing to do to such a close ally.

So today, the United States launched a trade war against Canada.

Their closest partner and ally, their closest friend.

At the same time, they're talking about working positively with Russia, appeasing

Vladimir Putin, a lying, murderous dictator. Make that make sense. Canadians are reasonable,

and we are polite, but we will not back down from a fight.

Not when our country and the well-being of everyone in it is at stake.

I want to speak first directly to the American people.

We don't want this.

We want to work with you as a friend and ally. And we don't want to see you

hurt either. But your government has chosen to do this to you.

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