The nation’s top three trading partners are rolling out levies on a wide range of products, including soybeans, meat and grains, in the escalating trade war.

President Trump’s long-threatened tariffs against Canada and Mexico went into effect Tuesday, putting global markets on edge and setting up costly retaliations by the United States’ North American allies.

The move sent financial markets into a tailspin as the U.S. faced the threat of rekindled inflation and paralyzing uncertainty for business.