Retaliation came swiftly and Illinois leaders warned of potential harm to the state's economy as President Donald Trump's new tariffs on goods from Canada, Mexico and China took effect Tuesday.

Time is running out with only one week left before the Mexico and Canada tariffs will be implemented by the Trump administration. This has caused growing concern among Illinois farmers and the agriculture market over a potential trade disruption.

State treasurers from Oregon, Illinois, Nevada and Colorado are urging the Trump administration to end a tumultuous trade war with Canada, Mexico and China.

The governor’s $55.2 billion budget is based on the December S&P Global forecast that projected stable economic growth and considered some of Trump’s top economic policies, including tariffs and tax cut extensions, would be implemented, Sturm said.

Canadian and Chinese officials say they were already helping reduce fentanyl smuggling. Prime Minister Justin Trudeau said fentanyl crossing the northern border is "near zero."

Trump put 25% tariffs on goods from Canada and Mexico on Tuesday. Markets tanked. And by Thursday, he had decided to broadly lift them.