South Korean firms with businesses in Canada and Mexico are bracing for U.S. President Donald Trump's plan to impose tariffs on goods from the two neighboring countries starting this week, industry observers noted Tuesday.

U.S. President Donald Trump said Monday his administration will start imposing 25 percent tariffs on Canadian and Mexican goods Tuesday, as he pointed out there is no room for the two countries to delay the planned duties.

Canada and Mexico are the leading exporters of steel to the US, but most of their products likely can be readily produced in the US, Bloomberg Intelligence analysis shows.

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RUPIAH - JAKARTA. South Korea and Indonesia led declines among emerging Asian currencies and stocks on Friday as the U.S. dollar strengthened, while markets braced for President Donald Trump's tariffs on China, Mexico and Canada, set to take effect next week.

Donald Trump announced 25 percent tariffs on foreign steel and aluminum imports on February 10, doubling down on his protectionist agenda to “boost” the

Shares retreated Friday in Europe and Asia, with benchmarks in Japan, Hong Kong and South Korea tumbling more than 2% as U.S. President Donald Trump’s decision to push ahead with 25% tariffs on imports from Mexico and Canada and to double tariffs on Chinese products to 20% left investors reeling.