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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.
Trump's comments sent U.S. stocks down sharply in late afternoon trading.
The Mexican peso and Canadian dollar both fell following his remarks.
He said there was "no room left" for a deal that would avert the tariffs by curbing fentanyl flows into the United States.
-REUTERS
