India, Feb. 2 -- The North American trade war formally began on Saturday night with Canadian Prime Minister Justin Trudeau announcing 25% tariffs on $155 billion worth of tariffs of American good coming into the country.

That retaliatory measure came after the Administration of US President Donald Trump followed through on the threat of 25% tariffs on Canadian imports (with the exemption of energy products which will face a 10% tariff). A similar tariff was also placed on Mexico and 10% of additional tariffs on imports from China.

Addressing a press conference in Ottawa on Saturday night, Trudeau first spoke directly to Americans about the close relationship the two nations have enjoyed. Then he announced that Ottawa will impose a 25% t...