US president, Donald Trump, says he will introduce tariffs of 25 per cent on products from Canada and Mexico as early as February. He made this statement

The US president said that he is aiming to levy 25% tariffs on imports from and Mexico by 1 February.

There are also fears in the EU that Mr Trump could impose new tariffs.

Trump made the threat against the two major US trading partners hours after taking the oath of office -- and promised to make liberal use of tariffs as a foreign policy tool.