The prospect of an all-out global trade war has moved a step closer – sending stock markets around the world tumbling.
First, President Trump slapped tariffs on imports from America’s three largest trading partners.
That’s 25% for Mexico and Canada and a doubling of previous tariffs on China to 20%.
Within hours, China and Canada had retaliated, but Justin Trudeau’s vow not to back down may have earnt his country even higher tariffs.