Kate Leinbaugh

That's the new NAFTA.

Trump's tariff plans sent Canadian and Mexican officials into a scramble.

Trump's tariff plans sent Canadian and Mexican officials into a scramble.

Trump's tariff plans sent Canadian and Mexican officials into a scramble.

U.S. industries also started lobbying the Trump administration over the tariffs, asking for delays and even exemption.

U.S. industries also started lobbying the Trump administration over the tariffs, asking for delays and even exemption.

U.S. industries also started lobbying the Trump administration over the tariffs, asking for delays and even exemption.

On Saturday, the Trump administration announced that these 25% tariffs on Canadian and Mexican goods and the 10% tariffs on Chinese goods would go into effect tomorrow morning. And after he announced that this was actually going to happen, how did the governments of Canada, Mexico, and China react?

On Saturday, the Trump administration announced that these 25% tariffs on Canadian and Mexican goods and the 10% tariffs on Chinese goods would go into effect tomorrow morning. And after he announced that this was actually going to happen, how did the governments of Canada, Mexico, and China react?

On Saturday, the Trump administration announced that these 25% tariffs on Canadian and Mexican goods and the 10% tariffs on Chinese goods would go into effect tomorrow morning. And after he announced that this was actually going to happen, how did the governments of Canada, Mexico, and China react?

Here's Canadian Prime Minister Justin Trudeau.

Here's Canadian Prime Minister Justin Trudeau.

Here's Canadian Prime Minister Justin Trudeau.

Canada said it would put tariffs on U.S. imports ranging from fruits and vegetables to appliances, motorcycles and alcohol. Mexican President Claudia Sheinbaum said the country was prepared to respond with tariffs and other measures. And she said yesterday that, quote, problems are not solved by imposing tariffs, but through discussion and dialogue.

Canada said it would put tariffs on U.S. imports ranging from fruits and vegetables to appliances, motorcycles and alcohol. Mexican President Claudia Sheinbaum said the country was prepared to respond with tariffs and other measures. And she said yesterday that, quote, problems are not solved by imposing tariffs, but through discussion and dialogue.

Canada said it would put tariffs on U.S. imports ranging from fruits and vegetables to appliances, motorcycles and alcohol. Mexican President Claudia Sheinbaum said the country was prepared to respond with tariffs and other measures. And she said yesterday that, quote, problems are not solved by imposing tariffs, but through discussion and dialogue.

How will these tariffs affect the U.S. economy and consumers is after the break. This looming trade war has spooked investors who fear it will deal a blow to the U.S. economy. This morning, stock markets opened sharply lower. Trump said yesterday in a social media post that there will be some pain from the tariffs, but, quote, it will all be worth the price that must be paid.

How will these tariffs affect the U.S. economy and consumers is after the break. This looming trade war has spooked investors who fear it will deal a blow to the U.S. economy. This morning, stock markets opened sharply lower. Trump said yesterday in a social media post that there will be some pain from the tariffs, but, quote, it will all be worth the price that must be paid.

How will these tariffs affect the U.S. economy and consumers is after the break. This looming trade war has spooked investors who fear it will deal a blow to the U.S. economy. This morning, stock markets opened sharply lower. Trump said yesterday in a social media post that there will be some pain from the tariffs, but, quote, it will all be worth the price that must be paid.

What do economists say will be the impact of these tariffs on the U.S. economy?