Trump imposed new tariffs on goods originating from its most immediate neighbors, Canada and Mexico, that would take effect on February 4. For weeks, he has been teasing these measures, specifically a 25% tariff on all imported goods originating from the two countries—save for a 10% carveout for Canadian oil.

Automakers and alcoholic beverage companies pared early session losses on Monday after U.S. President Donald Trump paused new tariffs on Mexico for one month.

His efforts to “repel the disastrous invasion of our country” by migrants and drugs from Mexico and Canada may soon include stemming the passage of cars. A promise to impose sweeping tariffs on “day one”,