U.S. President Donald Trump on Wednesday raised hopes for another month-long pause on steep new tariffs on imports from Mexico and Canada, saying they could take effect on April 2, and floated a 25% "reciprocal" tariff on European cars and other goods.

President Donald Trump says his tariffs on Canada and Mexico are starting next month. The comment Monday indicates the end of a monthlong suspension on planned import taxes that could potentially hurt growth and worsen inflation.

President Donald Trump announced that tariffs on Canadian and Mexican imports will take effect next month, ending a suspension that had delayed their implementation.