A slew of countries will face steep levies, including a 50% tariff on imports from Brazil and a 30% tariff on the European Union.

Over the past few decades, Japan-based automaker Toyota has spent billions of dollars to expand its manufacturing and assembly plants in the United States. Those plants now employ over 64,000 people across North America and have churned out millions of vehicles.

Trump said the U.S. has not 'had a lot of luck' with Canada during negotiations on a new trade and security deal, suggesting the two countries may end up with no new agreement.