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Hey there from CNN.

I'm Krista Bow with the five things you need to know for Tuesday, March 4th.

First it was China, then Canada. Now Mexico says it'll retaliate with tariffs on American goods.

We have therefore decided to respond with tariff and non-tariff measures,

which I shall announce publicly next Sunday.

It is in no way our purpose to initiate an economic or commercial confrontation.

That was Mexican President Claudia Scheinbaum speaking,

after President Donald Trump's blanket 25% tariffs on Mexico and Canada took effect today.

He also doubled the tariff on all Chinese imports to 20% from 10%, meaning a wide

array of goods from fresh produce, cars, and electronics could get more expensive. The Trump

administration said the tariffs were necessary to stem the flow of fentanyl into the country.

U.S. stocks slid this morning, dealing a fresh shock to an economy showing

alarm signs of slowing growth and rising inflation. These tariffs are the biggest gamble of his

second presidency so far. So you can expect to hear Trump mention it tonight at his big address

before Congress. He's also expected to tout and explain to Americans his sweeping changes,

including deep federal cuts, rapid executive actions, and foreign policy shifts.

...