President Donald Trump's broad tariffs on imported goods from Mexico and Canada went into effect on Tuesday, along with increased duties on goods from China.

White House officials have said Trump is considering reducing the tariff level after some progress from Mexico and Canada on reducing illegal immigration and the flow of fentanyl into the U.S.

Growth expectations for the U.S. economy are falling as China and Canada announce their next move in the tit-for-tat trade spat with the White House.