President Donald Trump said Monday that 25% tariffs on imports from Mexico and Canada will start Tuesday, sparking renewed fears of a North American trade war. “Tomorrow — tariffs 25% on Canada and 25% on Mexico. And that’ll start,” Trump told reporters in the Roosevelt Room. Trump has said the tariffs are to force the two U.S. neighbors to step up their fight against fentanyl trafficking into the U.S. The president provided a one-month delay in February as both countries promised concessions. But Trump said Monday that there was “no room left for Mexico or for Canada” to avoid the steep new tariffs. U.S. stock markets fell sharply after the comments and wiped out even more of their gains since Trump’s election. The S&P 500 dropped 1.8% Monday after Trump said there was no room left for negotiations that could lower tariffs on Canadian and Mexican imports.