Stocks wavered Tuesday as investors digested Trump's latest tariff plans, which he said would include a 25% tariff on imports from Canada and Mexico.

Investors are assessing the likelihood Trump will deliver on his threat to impose fresh tariffs on China, Canada and Mexico.

Mexico’s peso and Canada’s dollar fell sharply in the early hours of Tuesday morning on the back of a social media post from president-elect Donald Trump outlining plans to impose 25% tariffs on all products imported from the two countries with which the U.S. shares a land border.