February was marked by U.S. tariff news, geopolitical tensions and market volatility. Tariffs on Mexico and Canada, originally announced by the Trump administration to go into effect in early February, were delayed until March as both countries pledged to dedicate more resources to reduce intracontinental drug flow. In response to the U.S. tariffs, Canada and Mexico threatened retaliation, prompting President Donald Trump to vow increased matching tariffs. Already tense European relations deteriorated further as President Trump threatened to impose 25% tariffs on the European Union (EU).
