Donald Trump's 25% tariffs on goods from Mexico and Canada have come into effect. The US president confirmed the tariffs in a speech at the White House - and his announcement sent US stocks down sharply. The tariffs will be felt heavily by US companies which have factories in Canada and Mexico, such as carmakers. Latest business news 👉 https://trib.al/unXvp4J Money advice blog 👉 https://trib.al/wEeVvFT #Business #Economy #CostOfLiving #Banking #Stocks #Budget #Wages #Manufacturing #Banking SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews Follow us on Twitter: https://twitter.com/skynews Like us on Facebook: https://www.facebook.com/skynews Follow us on Instagram: https://www.instagram.com/skynews Follow us on TikTok: https://www.tiktok.com/@skynews For more content go to http://news.sky.com and download our apps: Apple https://itunes.apple.com/gb/app/sky-news/id316391924?mt=8 Android https://play.google.com/store/apps/details?id=com.bskyb.skynews.android&hl=en_GB Sky News Daily podcast is available for free here: https://podfollow.com/skynewsdaily/ Sky News videos are now available in Spanish here/Los video de Sky News están disponibles en español aquí: https://www.youtube.com/channel/UCzG5BnqHO8oNlrPDW9CYJog To enquire about licensing Sky News content, you can find more information here: https://news.sky.com/info/library-sales