The euro, Canadian dollar, and Mexican peso declined today due to US tariffs, amid fears of a trade war that could hit the global economy.

The Canadian dollar fell 1.4% against the US dollar in early Asian trading, its lowest level since 2003, the Mexican peso fell more than 2%, and the euro fell 1% against the US dollar.

This comes after US President Trump imposed tariffs on major US trading partners, Canada, Mexico and China, of 25% on imports from Canada and Mexico, and 10% on goods from China, in addition to existing tariffs. He also announced earlier that European products will soon be subject to additional tariffs as well.

The three main trading partners of the United States, Canada, Mexico and China, together account for more than 40% of its imports.