U.S. President Donald Trump said trade tariffs would be imposed on the European Union and U.K., but he signaled that a deal could be worked out with Britain.

Citing a senior Canadian official who shared details of Trump's plan with CBC, the news organisation says it includes 25% tariffs on most goods coming from Canada into the US, along with 10% tariffs on Canadian energy products.

Donald Trump is poised to carry out his threat to impose trade tariffs on the EU, but signalled the UK could be spared for now.

The European Union wants to engage swiftly with the United States over President Donald Trump's planned tariffs, trade chief Maros Sefcovic said on Tuesday, while his boss Ursula von der Leyen stressed the bloc would protect its interests in negotiations.

Prime Minister Keir Starmer had hoped to spend Monday marking a new milestone in the UK’s much-promised reset with the European Union five years after Brexit. Instead, he received a dramatic reminder of how much harder that will be with Donald Trump back in the White House.

President Trump agreed to pause tariffs on Mexico and Canada for one month. Meanwhile, China issued retaliatory tariffs against the U.S. after Trump imposed a 10% tariff on all Chinese imports. NBC News senior business correspondent Christine Romans breaks it all down.