US tariffs take effect and Mexico, Canada and China retaliate with their own tariffs on the US

The market really wants certainty and it will adjust to whatever they are,

he said at the Bloomberg Invest conference in New York

Greg DacoeY chief economist

The exceptionalism and resilience that we've been talking about for two years, I think is starting to show some cracks,

Daco added

We're going to see a price level change upward,

said Kleinhenz

The consumer will likely see price increases over the next couple of days,

Cornell said, with food imported from Mexico now hit with a 25 percent levy

We've got now multiple trade wars on multiple fronts,

Swonk said

Tariffs are about making America rich again and making America great again. And it’s happening, and it will happen rather quickly,

he said

If Lutnick's comments about giving relief on tariffs for Canada/Mexico holds, it would ease some of our concerns,

said Mohit Kumar, chief Europe economist at Jefferies

Justin Trudeauprime Minister

I won't sugar coat it. This is going to be tough,

Prime Minister Justin Trudeau told a press conference on Tuesday

We are at an inflection point,

said Randall Bartlett, Deputy Chief Economist with Desjardins

Dave McKay (baseball)rBC chief executive

It will disproportionately affect the less fortunate economically,

said Dave McKay, CEO of Royal Bank of Canada, the country's biggest lender

Craig Alexander (triathlete)australian triathlete

If the tariffs are sustained indefinitely, it would almost wipe out two years' worth of economic growth,

said Craig Alexander, president of Alexander Economic Views, an independent economic research organization

And that'll cascade down in the supply chain. So some will be able to survive a little longer than others, but 25% across the board is in the realm of being catastrophic for the auto industry as a whole,

he said

There is always the possibility to work in the U.S. or try to work in the U.S.,

Rios said

I believe the U.S. consumer is more sensitive to inflation than the Mexican,

he said, explaining

When you look at just macroeconomic indicators, Mexico's pain will statistically be greater,

said John Feeley, a former career U.S. diplomat and ambassador with decades of experience in Latin America

It's not just gaining political points, but actually finding a solution. Those two don't always point in the same direction,

he said

Jason Furmanformer Council of Economic Advisers Chair

During Trump's first term there was breathless coverage and obsession over tariffs but without any obviously discernible economic impact,

What they're saying ... Harvard's Jason Furman tells Axios

There will be a little disturbance, but we’re OK with that. It won’t be much.”

But Trump then confessed

That is never going to happen. We will never be the 51st state,

he told reporters on Tuesday

We can't replace an economy that is responsible for 80% of our trade overnight and it's going to hurt,

he said on Monday