President Biden on Thursday said he hoped Trump would rethink his plan to impose tariffs, saying it could "screw up" relationships with close allies.

Mexican President Claudia Sheinbaum expressed confidence that a tariff war with the U.S. can be avoided following recent tensions.

Mexico's President Claudia Sheinbaum said she and U.S. President-elect Donald Trump had agreed to maintain a good relationship in a friendly phone call that appeared to ease tensions between the top trading partners amid tariff threats.

Mexican President Claudia Sheinbaum said on Wednesday Mexico would retaliate if U.S. president-elect Donald Trump followed through with his proposed 25 per cent across-the-board tariff, a move her government warned could kill 400,

The leaders of Mexico and Canada responded quickly, and in different ways. Justin Trudeau, Canada’s prime minister, jumped on the phone to Mr Trump to chat about the “intense and effective connections” between their countries. His deputy, Chrystia Freeland, released a statement about the importance of border security.

Donald Trump’s pledge to hit Mexico, Canada, and China with new tariffs rattled global markets and sparked concern among the targeted countries.

Put simply, tariffs are a tax on imports. Here's what Donald Trump did with them in his first term and how they impact the economy.

Mexican President Claudia Sheinbaum spoke to President-elect Donald Trump after he threatened to impose tariffs and she hinted at retaliation in a letter.

Mexican President Claudia Sheinbaum says she is confident that a tariff war with the United States can be averted