European leaders were bracing for U.S. tariffs after sweeping levies imposed by U.S. President Donald Trump, affecting billions of dollars in trade between Mexico, China and Canada, roiled global markets and currencies.

President Donald Trump signed an order to put tariffs on U.S. neighbors Canada and Mexico, as well as China, starting Tuesday.

President Donald Trump made good on his promise to impose steep tariffs on America’s three largest trading partners — Canada, China and Mexico — citing a national emergency on the flow of fentanyl and undocumented immigrants into the United States.