Over the weekend, U.S. President Donald Trump initiated long-expected tariffs on imports from Canada, Mexico, and China, citing concerns about immigration and drug-related issues. In reaction, Canada declared it would impose its own reciprocal tariffs, while Mexico unveiled plans to implement countermeasures. China responded by filing a lawsuit with the World Trade Organization and hinted at taking additional steps. Moreover, the European Union expressed its preparedness to respond if targeted by these tariffs.