With a trio of executive orders, President Donald Trump has almost instantly thrown the world economy and his own goal of cutting inflation into turmoil. His tariffs against Canada and Mexico in order to stop illegal immigration and the illicit fentanyl trade led to retaliatory taxes by both countries on U.

Prime Minister Justin Trudeau announced that Canada would respond to President Trump's decision to enact a 25% tariff on Canadian exports to the U.S. by implementing a 25% tariff against $155 billion in U.

Many presidents use tariffs to force negotiations. But for President Trump, they are the point, a source of revenue as he pursues a Gilded Age vision.