Trump's early tariff announcements on Mexico, Canada, and China are just the "opening move," wrote one trade-focused attorney.

The U.S. dollar steadied against major peers on Wednesday as investors continued to take stock of President-elect Donald Trump's tariff pledges, while keeping an eye on a key inflation figure out of the U.S. later in the day.

Mexico and Canada are the United States’ top two trading partners, accounting for nearly 30% of trade volumes.