President Trump remains committed to imposing a 25% tariff on most goods imported from Canada and Mexico. Doug Holtz-Eakin, president of the American Action Forum and former director of the Congressional Budget Office, warns that Wall Street might underestimate the severe consequences these tariffs could bring to all three countries. As investors react to this potential economic shift, understanding the ramifications becomes crucial. These tariffs not only affect trade balances but can also lead to increased consumer prices and strained relations between trading partners. The broader impacts on the economy could be significant, urging businesses and policymakers to prepare accordingly.