The outgoing PM said Trump is a “skilled negotiator and will do what he can to keep his negotiating partners a little off balance.”

Trump pledged in his inaugural address that tariffs would be coming in a speech in which he promised a golden era for America. He later said Canada and Mexico could be hit with the tariffs as soon as Feb. 1, though he signed an executive order requesting a report coordinated by the Secretary of Commerce by April. 1.

President Donald Trump told reporters hours after taking office that he was considering levying a blanket duty on Mexico and Canada on Feb. 1.

Investors were tentatively breathing a sigh of relief on Tuesday as U.S. President Donald Trump’s initial policy diktats on tariffs were less stringent than they had feared, despite setting a tone of uncertainty in global markets.

The oil market is expected to remain on the edge in the coming months after Donald Trump took charge as the US president on Monday. Oil prices fell sharply on Tuesday as Trump plans to boost oil and gas production in the US,

Oil prices eased in Asian trading on Tuesday as President Donald Trump announced measures to boost U.S. energy production and delayed new tariffs. Brent crude futures slipped 0.14% to $80.04 per barrel,