Mexico’s peso and Canada’s dollar fell sharply in the early hours of Tuesday morning on the back of a social media post from president-elect Donald Trump outlining plans to impose 25% tariffs on all products imported from the two countries with which the U.S. shares a land border.

U.S. stocks are hanging near their records on Tuesday as Wall Street takes Donald Trump’s latest talk about tariffs in stride.

Stocks futures were falling on Tuesday after President-elect Donald Trump said he would impose steep tariffs on Mexico, Canada, and China, signaling to the market that the protectionist