Tilray Brands, Inc. ( TLRY ) stock is trading lower on Monday, alongside other cannabis-related stocks, following President Donald Trump's announcement of new tariffs on imported goods from Canada, Mexico and China, set to take effect Tuesday. Trump has since temporarily paused the 25% tariff on imports from Mexico for one month.

The Details: The 25% tariff on goods from Canada and the additional 10% tariff on goods from China are still scheduled to go into effect on Tuesday. However, energy exports from Canada will face a lower tariff rate of 10%.

Tilray and other cannabis-related stocks may be falling as investors weigh the potential impact of tariffs on the sector. For instance, tariffs could drive up the cost of importing raw materials and other supplies. Additionally, increased trade tensions and economic uncertainty could be dampening investor sentiment.

Trump reportedly stated that while Americans might feel "some short-term pain" from the tariffs, in the long run, the U.S. has been "ripped off by virtually every country."

Canadian Prime Minister Justin Trudeau responded to Trump’s tariffs by implementing a 25% tariff on more than $100 billion worth of U.S. goods. Trudeau and Trump are set to discuss the tariffs over the phone later today.

Other cannabis-related stocks also moving lower following Trump's announcement include Aurora Cannabis, Inc. ( ACB ) and SNDL, Inc. ( SNDL ) .

Related Link: PPG Industries Analysts Cut Their Forecasts Following Weak Q4 Earnings

TLRY Price Action: At the time of publication, Tilray shares are trading 5.10% lower at 99 cents, according to data from Benzinga Pro.

Image: This illustration was generated using artificial intelligence via Midjourney.