<h1>Trump Announces New 25% Tariffs on Mexico and Canada to Address Fentanyl Trafficking and Immigration Issues</h1> President Donald Trump announced that 25% tariffs on imports from Mexico and Canada would commence on Tuesday, heightening fears of a North American trade war. The tariffs aim to combat fentanyl trafficking, curb illegal immigration, and address trade imbalances. The announcement caused a 2% drop in the S&P 500 index, reflecting economic concerns. Despite potential inflation and trade partnership risks, the Trump administration believes tariffs will boost U.S. manufacturing. Canada and Mexico have prepared retaliatory measures. Both countries have made efforts to address U.S. concerns, with Mexico deploying troops to its border and Canada appointing a fentanyl czar.