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.

U.S. President Donald Trump said he is planning to announce tariffs of up to 25 percent on goods from the European Union. Trump, speaking to press after the first meeting of his administration’s cabinet secretaries, said he is planning to announce tariffs of up to 25 percent on a range of goods “soon.”