US President Donald Trump hit markets with new tariff headlines on Wednesday, reiterating his insistence on 25% tariffs on Canada and Mexico and adding the European Union to the list of countries that will punish US consumers for importing goods from them.

While redoubling his plans to fund the US deficit spending with import taxes, President Trump also delayed his own tariffs for the fourth straight time, deciding that tariffs on Canadian and Mexican imports will not go into effect until April.

Key highlights

Not stopping tariffs.

Tariffs will go into effect, not all, but many.

Tariffs on Canada and Mexico go into effect on April 2.

We don't need Canadian lumber.

Trump's decision on EU tariffs: 25%

Details on EU tariffs coming soon.

EU could try to retaliate with tariffs.

EU tariffs set at 25% on cars and other goods. (Newsmaker23)

Source: FXstreet