Trump's tariffs on Canada, Mexico and China suggest he is willing to risk a global trade war. The main thing that could stop him would be a stock market selloff.

Business groups, economists and even some Republicans cautioned that new tariffs on goods from Canada, Mexico and China could undercut U.S. industry and the economy.

Shares in Europe and Asia have fallen after US President Donald Trump announced tariffs on Canada, Mexico and China, and said tariffs on the EU would "definitely happen". The German and French stock markets were down about 2%, with shares in carmakers among the worst hit, while London's FTSE 100 dropped more 1%.

U.S. futures and global stocks were hit by a selloff early on Monday as markets around the world braced for a potential trade war triggered by President Donald Trump’s decision to impose sweeping tariffs on imports from Canada, Mexico, and China—which he acknowledged will cause “some pain” for American consumers.

The president’s trade assault, which makes no distinction between ally and adversary, is an assertion of U.S. dominance with significant risks.

Charging a percentage is the most common type of tariff. Trump is imposing a 25% tariff on goods shipped from Canada and Mexico. So a product worth $4 will face an additional $1 charge applied to it.

Canada’s prime minister and Mexico’s president have ordered retaliatory tariffs against Americans, following through with their threats after U.S.

Shares of automakers and megacap tech stocks bore the brunt of a wider equity pullback on Monday after U.S. President Donald Trump ordered sweeping tariffs against Mexico, Canada and China, sparking fears of a global trade war that could hit growth.

President Donald Trump took action Saturday to impose new tariffs on Canada, Mexico and China, the White House said, which could have a sweeping impact on the American economy. The additional tariffs on Canadian and Mexican goods will be 25 percent,

President Donald Trump has finally made good on a campaign promise to raise tariffs on Chinese imports – announcing on Saturday duties of 10% on all Chinese goods coming in the country as part of sweeping trade measures that also targeted Mexico and Canada.

Mexico has been preparing possible retaliatory tariffs on imports from the U.S., ranging from 5% to 20%, on pork, cheese, fresh produce, manufactured steel and aluminum, according