Discuss the recent trade tensions between the U.S., Canada, and Mexico, focusing on the tariffs imposed and the motivations behind them. Explain the economic theory of tariffs and how they are intended to protect domestic industries while possibly leading to increased consumer prices. Highlight Canada’s billion-dollar retaliation, detailing the specific goods affected and the potential impact on both economies. Analyze historical examples of trade wars and the role of international organizations in resolving such disputes. Conclude by considering the broader economic implications and possible future developments in international trade relations.