Follow along for live updates as markets and traders brace for impact after Donald Trump said his plan to tariff goods from Canada, Mexico and China will move forward.

U.S. President Donald Trump said on Monday that 25% tariffs on goods from Mexico and Canada will take effect on Tuesday, stoking fears of a trade war in North America and sending financial markets reeling.

White House officials have said Trump is considering reducing the tariff level after some progress from Mexico and Canada on reducing illegal immigration and the flow of fentanyl into the U.S.