President Donald Trump has landed on a nickname for Canadian Prime Minister Justin Trudeau now that the United States and Canada have entered into a tariff trade war. “Governor.”

The action immediately shook global markets, plummeted stocks and will likely raise prices on everyday products – from gas to produce – for consumers. Canada, Mexico and China quickly retaliated, with Canadian Prime Minister Justin Trudeau saying Ottawa is setting 25% tariffs on $20.7 billion worth of U.S. imports, from orange juice to cosmetics.

The White House press secretary said Trump decided to pause the 25% tariffs on auto imports after talking to officials with Ford, GM and Stellantis.