The Trump administration said Saturday it would levy 25% import tariffs on goods from Mexico and Canada, with Canadian energy products facing a 10% tariff. The announcement also includes an extra 10% tariff on imports from China.

Trump’s move to impose new tariffs has bewildered the United States’ closest allies and trading partners, who have vowed to respond with levies of their own.

President Donald Trump said the sweeping tariffs that he has imposed on Mexico, Canada and China may cause "short term" pain for Americans as global markets reflected concerns the levies could undermine growth and reignite inflation.