US President Donald Trump has said he will follow through with his threat to hit imports from Canada and Mexico with 25% border taxes, known as tariffs, on 1 February. But he added that a decision about whether this would include oil from those countries has not yet been made.

President Donald Trump’s renewed pledges to slap 25% tariffs on imports from Canada and Mexico on Feb. 1 jolted foreign exchange markets late in the New York trading session, sending currencies from both countries plunging against the US dollar.

President Trump has threatened to impose tariffs on Canada over drug trafficking, equating it with Mexico. U.S. government reports do not support the claim.