The dollar gained and investors sold off stocks after the president-elect promised to levy new restrictions on the United States’ biggest trade partners.

President-elect Donald Trump will waste little time in making good on his campaign promise, pledging to impose levies on Mexico and Canada on his first day back in the White House.

The episode conjures uncomfortable memories for markets that have got used to reacting to scheduled events such as Fed policy announcements and monthly payrolls reports during Joe Biden's tenure as president. Now, investors must brace for market-moving Trump posts at any hour, like during his first term in office.

Donald Trump promised steep import tariffs that would be particularly painful for carmakers manufacturing in countries such as Mexico and Canada for the U.S. market.

U.S. oil and gas lobbying groups said on Tuesday they were wary of President-elect Donald Trump's threat of tariffs on Canada and Mexico, saying such policies could affect consumers, industry and security.

President-elect Donald Trump on Monday pledged tariffs on the United States' three largest trading partners - Canada, Mexico and China - detailing how he will implement campaign promises that could trigger trade wars.

Donald Trump’s tariff threats shook currency and equity markets globally even though his most recent sally was aimed more narrowly at Canada, Mexico and China. While the president-elect suggested he mainly wants those three countries to take more steps to fight drug trafficking,

The president-elect announced on Monday that he intends to impose a 25 percent tariff on goods from Canada and Mexico.