After a fresh wave of tariffs from the United States, Canada and the European Union said they would impose billions in levies on U.S. goods.

Few can question the fact that the proposed Trump tariffs have rattled investors. Such levies increase the cost of doing business. Hence, with the uncertainty surrounding when tariffs will be implemented or how much they will cost businesses and consumers, most stocks have fallen in recent trading sessions.

The Donald Trump tariff policies, implemented during his tenure as President, marked a significant shift in the United States' trade strategy. Historically, tariffs have been used primarily as a source of national revenue or to protect budding domestic industries from foreign competition.

President Trump is doubling down on his widespread tariffs threats despite a stock market downturn that has helped fuel anxiety the nation could slide into a recession. Trump escalated the tit for tat with Canada on Tuesday when he said his administration would increase planned steel and aluminum tariffs in response to an electricity surcharge