NEW YORK/SINGAPORE (Reuters) -U.S. President Donald Trump on Saturday ordered tariffs of 25% on Canadian and Mexican imports and 10% on goods from China starting on Tuesday to address what he calls a national emergency of fentanyl and illegal immigration pouring into the U.S. If the tariffs are implemented as seems likely now, they will have a very significant impact on price levels in the U.S. very quickly, which also will put a dent in equities and high-beta assets.