The president said he planned to put tariffs on America’s neighbors on Feb. 1, as he signed an executive order mandating a sweeping review of U.S. trade policy.

Less than a day after exiting bullish dollar option trades, some leveraged funds found themselves back in them on Tuesday after US President Donald Trump updated his tariff stance.

Trump was quoted saying his team was thinking of tariffs around 25% which could be announced on Feb. 1 but offered no other specifics.

The remarks were made to members of the press as the newly minted chief executive offered a slew of executive orders.

President Trump said Monday evening from the White House that he is aiming to place 25% tariffs on imports from Canada and Mexico on Feb. 1. Trump made the comment even as he plans to direct federal agencies to analyze federal trade practices and policies with China and North American allies.

Trump in response to a reporter’s question said the administration was considering imposing tariffs of 25% on imports from Mexico and Canada as soon as Feb. 1. The moves, if implemented, would kickstart a long-expected trade war between the three countries.

Donald Trump sparked a bout of tumult in financial markets hours after his inauguration as he threatened to hit Mexico and Canada with big tariffs. Speaking in the Oval Office late on Monday, Trump said he could enact tariffs of 25 per cent against both countries as soon as February 1,

President Donald Trump isn’t expected to carry through on his threat to impose sweeping tariffs on the first day of his presidency, a move that economists have warned could lead to higher prices for Americans and hurt U.

President-elect Trump won't impose broad tariffs on Day 1 of his presidency, and instead will order reviews of trade and currency imbalances, the Wall Street Journal reported Monday. Why it matters: Global markets feared Trump would immediately make good on his campaign promise to place sweeping tariffs on U.