Donald Trump confirms Mexico and Canada tariffs – sending financial markets reeling

Donald Trump has confirmed 25% tariffs on goods from Mexico and Canada, taking effect at 5am UK time on Tuesday. The US president confirmed the tariffs in a speech at the White House – and his announcement sent US stocks down sharply. The tariffs will be felt heavily by US companies which have factories in Canada and Mexico, such as carmakers. Mr Trump said: “They’re going to have a tariff. So what they have to do is build their car plants, frankly, and other things in the United States, in which case they have no tariffs.” There’s “no room left”…