President Donald Trump signed an order to put tariffs on U.S. neighbors Canada and Mexico, as well as China, starting Tuesday.

President Donald Trump said on Sunday the sweeping tariffs that he has imposed on Mexico, Canada and China may cause "some pain" for Americans, as Wall Street and the largest U.S. trading partners signaled hope that the trade war would not last long.

Canada, Mexico and China responded to Trump's long-promised tariffs on imports, with Canada immediately retaliating. The EU also weighed in with its reaction.