(AURN News) — Wall Street reacted negatively Monday after President Donald Trump confirmed that new tariffs against Canada and Mexico will take effect at midnight Tuesday, sending stocks downward. Bitcoin prices also declined following the announcement.

The confirmation comes months after the Trump administration proposed tariffs in January. The original proposal included a 25% tariff on Canadian goods, a 10% levy on Canadian energy imports, and a 10% tariff on Chinese goods.

Trump made the announcement while also promoting new investment opportunities for the country. The tariffs are scheduled to begin at midnight Tuesday.

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