By declaring he’d put tariffs on goods from the South American country, the president imperiled a growing influx of foreign investment there.

Trump has also threatened to introduce tariffs - a tax on imports - on goods from Canada and Mexico, but paused these for 30 days after both countries agreed to boost border security. The US president has said tariffs are needed to help the American economy and to "protect" the country from the "major threat of illegal aliens and deadly drugs".

Donald Trump’s quest to reform the United States economy by implementing tariffs is moving quickly. The U.S. President had barely been back in the White House for a week when he started taking steps toward levying tariffs against Canada,