The Globe and Mail reports in its Tuesday, March 4, edition that as President Donald Trump moves forward with his tariff threats, American companies, consumers and investors are becoming increasingly concerned. The Globe's Mark Rendell writes that U.S. stock markets fell sharply on Monday, with the S&P 500 dropping 1.8 per cent and the Nasdaq Composite down 2.6 per cent, following Mr. Trump's announcement of 25-per-cent tariffs on Canada and Mexico. Recent surveys indicate a significant decline in consumer confidence, rising inflation expectations, and U.S. businesses scrambling to prepare for supply chain disruptions and increased costs. Initial investor optimism has faded as the prospect of a trade war looms. CIBC economist Ali Jaffery says, "I think people expected that deregulation and tax policy would be concurrent with tariffs, but really tariffs are dominating now and everybody's recognizing that this is what's going to hit us first, and that's going to hit our bottom line." Bank of Montreal economist Jennifer Lee says corporate America seems to be waiting to see if and how long the impact kicks in. However, she says the bigger concern is from consumers facing rising prices at the pump and grocery stores.