President Trump could still choose to pause the tariffs he is threatening to put on America’s largest trading partners Tuesday, but industries are preparing for the worst.

US stocks slid Monday as investors braced for President Donald Trump’s proposed tariffs on Canada and Mexico to go into effect by the midnight deadline. The Dow tumbled 650 points, or 1.48%, to close at 43,

President Donald Trump is moving forward with 25% tariffs on goods imported from Canada and Mexico into the US, saying that time had run out to reach a deal. US stock markets sank in response to the measures, which have been threatened since earlier this year and are due to go into effect on Tuesday.