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.

Mexico has previously imposed tariffs on countries that it doesn’t have free trade agreements with, President Sheinbaum said.

Canada and Mexico are expected to intensify efforts this week to avoid punishing 25% tariffs on their exports to the U.S. in talks to persuade President Donald Trump's administration that their steps to increase border security and curb fentanyl trafficking are working ahead of a March 4 deadline.