China, which Trump announced will get hit with a 10 percent tariff starting Tuesday, will reportedly have a call with the White House soon. Early Tuesday, Beijing announced a 15 percent levy on certain types of coal and natural gas, and a 10 percent tariff on various vehicle parts, machinery, and crude oil.

Trump's tariffs on Canada, Mexico, and China have shaken financial markets, with economists warning the move has plunged the global trade system into 'chaos.'

Markets were reeling Monday as the developing trade war between the U.S. and Mexico, Canada, and China looked set to escalate.

Trudeau said Canada will implement 25% tariffs on $155 billion worth of U.S. goods, while Sheinbaum said she has instructed officials in her government to implement what she calle

European shares slid on Monday, joining a worldwide selloff driven by concern that U.S. President Donald Trump's tariffs on Canada, Mexico and China are just the opening salvo in a global trade war that would curb economic growth internationally.