European markets are expected to open in negative territory on Friday, after U.S. President Donald Trump threatened once again to slap tariffs on the EU and followed through with new levies on Canada and Mexico.

President Donald Trump is shaking up the world economy. His tariff plan proposes a 25% tariff on imports from Mexico and Canada, 10% to 60% on Chinese goods, and 25% tariffs on goods coming from the 27-member nation European Union.

A White House official, however, said Trump's previous March 4 deadline for the 25% tariffs on Mexican and Canadian goods remained in effect "as of this moment," pending his review of Mexican and Canadian actions to secure their borders and halt the flow of migrants and the opioid fentanyl into the U.

As Canadians experience their very own ‘Zeitenwende’ — the end of an era — in the wake of Trump’s desire to absorb Canada into the U.S., Canadian leaders should learn from the EU.

President Donald Trump on Wednesday gave a series of apparently contradictory answers about his plans to enact tariffs on Canada and Mexico, as well as the European Union.

President Donald Trump on Wednesday gave a series of apparently contradictory answers about his plans to enact tariffs on Canada and Mexico, as well as the European Union.

President Donald Trump said tariffs on imports from Canada and Mexico will go into effect March 4 and intends to double tariffs on goods from China.

The American president met with British Prime Minister at the White House to discuss Ukraine, tariffs, and a possible Trump state visit to England.

European Commission President Ursula von der Leyen, Canadian Prime Minister Justin Trudeau, and European Council President Antonio Costa in Brussels on February 12, 2025.

These common imports from the European Union could cost more if Trump follows through on plans to enact 25% tariffs.