The sell-off in the markets due to President Trump’s tariffs on China, Mexico, and Canada has impacted various industries, with tech and consumer discretionary stocks taking a hit. The US dollar has surged to near a two-year high, while automakers and other industries are bracing for the impact of the tariffs. The uncertainty surrounding Trump’s trade agenda for 2025 has led to concerns about inflation and interest rates. Investors are now reassessing the risks of a trade war and adjusting their portfolios accordingly.