Stocks slipped after an ISM survey and extended losses after Mr Trump said 25 per cent tariffs on Canada and Mexico will go into effect on March 4 with reciprocal tariffs starting April 2. He said the North American countries had “no room left” to avert the tariffs.

NEW YORK : Wall Street’s main stock indexes slipped on Monday after President Donald Trump announced the start of 25% tariffs on Canada and Mexico, and after data showed a slight dip in US manufacturing.

The Dow industrials fell 1.5%, or nearly 650 points. The tech-heavy Nasdaq Composite slid 2.6% to a level last seen just before Trump’s November election victory.