It follows threats by Trump to levy import taxes of 25% on Mexico and Canada, accusing them of allowing undocumented migrants and drugs into the US.

Canadian leaders expressed relief Monday that broad tariffs were not applied to Canadian products on the first day of Donald Trump's presidency and that he did not mention America's major trading partner during his inaugural speech.

Amid the whirl of orders Donald Trump issued in the early hours of his presidency, one was conspicuous in its absence: new tariffs on Canada and Mexico.

President Trump pushed out a wave of executive orders yesterday after his inauguration. NBC News senior business correspondent Christine Romans reports more on when Trump plans to roll out the tariffs he promised on Mexico and Canada.

President Donald Trump said in an Oval Office signing ceremony Monday evening that his administration will impose 25% tariffs on Mexico and Canada on February 1, an extraordinary change in North American trade policy that could raise prices for American consumers.