The Chinese government announced the tariffs last week, shortly after President Trump raised tariffs on Chinese products for the second time since he took office in January. The Chinese tariffs will include a levy of 15 percent on U.S. products like chicken, wheat and corn, as well as 10 percent on products like soybeans, pork, beef and fruit.

China's new tariffs on U.S. agricultural goods take effect today, cutting into American farmers' largest overseas market. The move follows the White House's decision to end a major source of farm income through the U.

Long-threatened tariffs from U.S. President Donald Trump have plunged the country into a trade war abroad — all while on-again, off-again new levies continue to escalate uncertainty.

Canada's main stock index fell more than 1% on Monday, as investors were averse to taking risks over persistent worries about the global trade war. The Toronto Stock Exchange's S&P/TSX composite index was down 1.

With the current state of domestic and global affairs, I’m at a loss as to how to keep my economic stability in check.”

Futures tied to Canada's main stock index fell on Monday as concerns of a global trade war persisted, while investors also eyed the Bank of Canada's interest rate decision later in the week.

Former central banker Mark Carney will become prime minister after the governing Liberal Party elected him its leader Sunday in a landside vote with 85.9 percent support.