U.S. President Donald Trump said on Monday that the 25 percent tariff on Canada and Mexico will take effect tomorrow, Tuesday, adding that counter tariffs will begin on April 2.

Trump confirmed that there is no chance for Mexico or Canada to avoid the tariffs he promised to impose on Tuesday.

In her first reaction, Canadian Foreign Minister Mélanie Joly told reporters on Monday that Canada would be ready to respond if the U.S. president went ahead with his threat to impose tariffs on all Canadian imports.

Joly reaffirmed Ottawa's position that Canadian countermeasures against U.S. imports could reach CAD 155 billion (about USD 107 billion).

Trump said he would consider signing a free trade agreement with Argentina. He added to reporters at the White House that he believes his Argentine counterpart Javier Milei is a "great leader."