U.S. triggers trade war with tariffs on Canada, Mexico

President Donald Trump said on Monday that there was no chance for Canada or Mexico to prevent 25 per cent tariffs from taking effect on Tuesday, sending financial markets reeling on the prospect of new economic barriers. Reuters U.S. President Donald Trump launched a trade war with Canada at 12:01 a.m. Tuesday morning, citing a threat to national security posed by "unchecked drug trafficking." The U.S. is now imposing 25 per cent tariffs on Canadian goods, with a 10 per cent tariff on energy and critical minerals. Prime Minister Justin Trudeau has vowed to retaliate, hitting back with $30-billion in…