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| Stock markets sink as Trump confirms tariffs on Canada, Mexico and China | Stock markets sink as Trump confirms tariffs on Canada, Mexico and China |
| (about 4 hours later) | |
| President Donald Trump has said he is moving forward with 25% tariffs on goods imported from Canada and Mexico into the US, adding that time had run out to reach a deal. | President Donald Trump has said he is moving forward with 25% tariffs on goods imported from Canada and Mexico into the US, adding that time had run out to reach a deal. |
| US stock markets sank in response to the measures, which he has threatened since earlier this year and said would now go into effect on Tuesday. | US stock markets sank in response to the measures, which he has threatened since earlier this year and said would now go into effect on Tuesday. |
| An additional 10% tariff on Chinese imports is also expected to come into force, leaving all of America's top three trade partners facing significantly higher barriers than just a few weeks ago. | |
| "No room left for Mexico or for Canada," Trump said at the White House on Monday. "The tariffs, you know, they're all set. They go into effect tomorrow." | "No room left for Mexico or for Canada," Trump said at the White House on Monday. "The tariffs, you know, they're all set. They go into effect tomorrow." |
| The three major indices in the US sank after Trump's comments. The Dow Jones Industrial Average ended the day down 1.4%, the S&P 500 sank 1.75% and the Nasdaq fell 2.6%. | The three major indices in the US sank after Trump's comments. The Dow Jones Industrial Average ended the day down 1.4%, the S&P 500 sank 1.75% and the Nasdaq fell 2.6%. |
| Prime Minister Justin Trudeau responded: "Canada will not let this unjustified decision go unanswered." | Prime Minister Justin Trudeau responded: "Canada will not let this unjustified decision go unanswered." |
| Canadian Foreign Minister Melanie Joly told reporters that Ottawa planned to impose retaliatory tariffs against US imports of C$155bn ($107bn; £ 84bn), with the first tranche of $30bn ready immediately to be levied on everyday goods like pasta, clothing and perfume. | Canadian Foreign Minister Melanie Joly told reporters that Ottawa planned to impose retaliatory tariffs against US imports of C$155bn ($107bn; £ 84bn), with the first tranche of $30bn ready immediately to be levied on everyday goods like pasta, clothing and perfume. |
| The foreign minister added that the tariffs were "an existential threat to us", with "thousands of jobs in Canada at stake". | The foreign minister added that the tariffs were "an existential threat to us", with "thousands of jobs in Canada at stake". |
| China's commerce ministry on Tuesday also vowed to retaliate against the fresh US tariffs, accusing the Trump administration of trying to "shift the blame" and "bully" Beijing over fentanyl flows. | China's commerce ministry on Tuesday also vowed to retaliate against the fresh US tariffs, accusing the Trump administration of trying to "shift the blame" and "bully" Beijing over fentanyl flows. |
| In a statement, the ministry urged the US to "immediately withdraw" its tariffs that it described as "unreasonable and groundless, harmful to others". | In a statement, the ministry urged the US to "immediately withdraw" its tariffs that it described as "unreasonable and groundless, harmful to others". |
| State media outlet The Global Times reported on Monday that China may target US agricultural and food products with both tariff and non-tariff measures. | State media outlet The Global Times reported on Monday that China may target US agricultural and food products with both tariff and non-tariff measures. |
| Mexico also said it will retaliate against the US tariffs, raising the prospect of a widening trade war. | Mexico also said it will retaliate against the US tariffs, raising the prospect of a widening trade war. |
| Trump threatened to impose the tariffs, which are a tax added to a product when it enters a country - on Canada, Mexico and China in response to what he said was the unacceptable flow of illegal drugs and illegal immigrants into the US. | Trump threatened to impose the tariffs, which are a tax added to a product when it enters a country - on Canada, Mexico and China in response to what he said was the unacceptable flow of illegal drugs and illegal immigrants into the US. |
| 'No room left' for Canada and Mexico to negotiate tariffs, says Trump | 'No room left' for Canada and Mexico to negotiate tariffs, says Trump |
| All the tariffs were supposed to take effect last month, until the US agreed to a one-month delay for Canada and Mexico, pulling its North American neighbours back from the brink of a potentially damaging trade war. | All the tariffs were supposed to take effect last month, until the US agreed to a one-month delay for Canada and Mexico, pulling its North American neighbours back from the brink of a potentially damaging trade war. |
| But Trump went ahead with imposing a 10% tariff on Chinese exports to the US in February, meaning goods from the country now face a levy of at least 20%. | But Trump went ahead with imposing a 10% tariff on Chinese exports to the US in February, meaning goods from the country now face a levy of at least 20%. |
| Trump has long maintained that tariffs are a useful tool to correct trade imbalances and protect US manufacturing. | Trump has long maintained that tariffs are a useful tool to correct trade imbalances and protect US manufacturing. |
| He has largely dismissed concerns that the measures risk economic damage in the US, despite the close ties, especially in North America, where businesses have enjoyed decades of free trade. | He has largely dismissed concerns that the measures risk economic damage in the US, despite the close ties, especially in North America, where businesses have enjoyed decades of free trade. |
| "What they'll have to do is build their car plants, frankly, and other things, in the United States, in which case they have no tariffs," he added. | "What they'll have to do is build their car plants, frankly, and other things, in the United States, in which case they have no tariffs," he added. |
| Watch: Trump supporters on president's 51st state jibe | Watch: Trump supporters on president's 51st state jibe |
| Officials from Canada and Mexico had been in Washington in recent days, trying to stave off the tariffs. | Officials from Canada and Mexico had been in Washington in recent days, trying to stave off the tariffs. |
| Mexican President Claudia Sheinbaum appeared to send a message to Trump earlier on Monday when she said at a public event in the city of Colima that "Mexico has to be respected". | Mexican President Claudia Sheinbaum appeared to send a message to Trump earlier on Monday when she said at a public event in the city of Colima that "Mexico has to be respected". |
| "Co-operation [and] co-ordination, yes, subordination, never." | "Co-operation [and] co-ordination, yes, subordination, never." |
| Trudeau met King Charles on Monday in the UK, saying beforehand that he would discuss issues of importance to Canadians, including "standing up for our sovereignty and our independence as a nation". | Trudeau met King Charles on Monday in the UK, saying beforehand that he would discuss issues of importance to Canadians, including "standing up for our sovereignty and our independence as a nation". |
| A day earlier Canada's PM said from a summit in London that Canada was "not an issue" as a source of illegal fentanyl in the US. | A day earlier Canada's PM said from a summit in London that Canada was "not an issue" as a source of illegal fentanyl in the US. |
| Only 1% of fentanyl seized in the US is thought to come from Canada, according to US data. | Only 1% of fentanyl seized in the US is thought to come from Canada, according to US data. |
| How does fentanyl get into the US? | How does fentanyl get into the US? |
| What are tariffs and why is Trump using them? | What are tariffs and why is Trump using them? |
| How Japan sparked Trump's 40-year love affair with tariffs | How Japan sparked Trump's 40-year love affair with tariffs |
| Watch: Canada plans 'strong' response if Trump imposes tariffs, says Trudeau | Watch: Canada plans 'strong' response if Trump imposes tariffs, says Trudeau |
| The Canada Border Services Agency (CBSA) says it has been "surging" its efforts to tackle fentanyl crossing into the US. | The Canada Border Services Agency (CBSA) says it has been "surging" its efforts to tackle fentanyl crossing into the US. |
| President Trump has also announced a 25% charge on all steel and aluminium imports, which is meant to come into effect on 12 March. | President Trump has also announced a 25% charge on all steel and aluminium imports, which is meant to come into effect on 12 March. |
| In addition, he has threatened to impose custom "reciprocal" tariffs on individual countries, as well as 25% tariffs on the European Union. | In addition, he has threatened to impose custom "reciprocal" tariffs on individual countries, as well as 25% tariffs on the European Union. |
| Watch: 'I'm getting angry and anti-American' - Canadians on tariff threat | Watch: 'I'm getting angry and anti-American' - Canadians on tariff threat |