President Donald Trump is following through on his campaign promises to implement tariffs on imported goods from Canada and Mexico. Investors, financial advisors and other economists are currently tracking the Stock Market with new tariffs being implemented. With ongoing trade disputes other nations, there are concerns from stock market investors about a continued drop in value.

Barry Bigelow is a wealth advisor for the Heartland group and Farther Financial. He says the current tariffs have made people anxious and worried about the financial markets and their investments.

“The reality is the confidence of the American people right now in the last week isn’t high. That can change in a day,” Bigelow said. “So it’s a situation where if you’ve invested and have questions, it’s probably best to work with a financial advisor.”

The Dow has been down 3% from the beginning of 2025. Bigalow says there’s still time for shares to bounce back according to people tracking the Stock Market. He says when people lose confidence in the market, and there’s a drop in sales, it doesn’t necessarily mean the nation is heading to an economic recession.

“We’re starting to see that swirl a little bit. This is why the government actually put in a circuit breaker in the stock market,” Bigelow said. “The stock market can’t drop too much before they pause trading and kind of let cooler heads prevail.”

As more tariffs are planned for the future from the Trump Administration’s, it’s split support for legislators representing Minnesota. U.S. Senator Amy Klobuchar says in the long run, the 25% steel and aluminum import tariff taxes are going to hurt businesses in the Northland.

“We do a lot of business with the world. We don’t want all these other countries trading with each other and we’re left out of the scene,” Sen. Klobuchar said. “Targeted tariffs that make some sense, yes, but these do not make any sense, especially for states like Minnesota that have such a strong economy in very different ways, very different ways.”

WDIO News reached out to U.S. Representative Pete Stauber to comment on the new Tariffs imposed. Pete Stauber released the following statement:

“In his first term, President Trump imposed the Section 232 tariffs to protect American steel industry from unfair foreign competition. These tariffs completely reinvigorated the Iron Range and were so successful they were kept in place by the Biden administration. However, China exploited the exemption process of these initial tariffs, creating loopholes that have harmed our domestic industries. President Trump’s decision to restore a true 25% tariff on steel will close these existing loopholes and go even further to strengthen the United States’ steel industry. Minnesota’s Iron Range will benefit from these tariffs. I applaud President Trump for taking decisive action to end unfair trade practices, protect mining interests on the Iron Range, and strengthen our domestic steel industry.”

Also for more information on the tariffs already imposed by Trump Administration can be found here.