Donald Trump says tariffs on Canada and Mexico will go ahead within days

Donald Trump has vowed to go ahead with imposing tariffs on close neighbours Canada and Mexico, reiterating his complaint that the US had been “taken advantage of” by foreign nations.

On February 1, he signed executive orders to introduce 25 per cent tariffs on products from both countries, plus a 10 per cent tariff on energy from Canada.

After a huge outcry, two days later he granted a month-long pause in imposing them after Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum promised to step up border security.

But that reprieve is due to end within days and Mr Trump has now confirmed during a White House briefing with reporters that they will proceed.

“The tariffs are going forward on time, on schedule. This is an abuse that took place for many, many years. The tariffs will go forward, yes, and we’re going to make up a lot of territory,” he said at a joint press conference with French President Emmanuel Macron.

“The tariffs are going forward on time, on schedule.”

The pause is expected to be lifted around March 4.

“Our country will be extremely liquid and rich again,” Mr Trump said.

Canada has warned it will retaliate if tariffs are imposed.

Separately, Mr Trump has signed an order to impose reciprocal tariffs on every country that taxes or charges a tariff on the US and tariffs on certain industries including steel and aluminium.

The president said that under the reciprocal tariff plan, the US will treat other countries’ non-tariff policies as unfair trade practices that warrant tariffs in response.

Those include value-added taxes, or VATs, and other practices that the office of the US trade representative deems to be unfair trade limitations.

Mr Trump also said that foreign countries will not be allowed to send merchandise or other items to the US through another country.