The U.S. dollar staged a partial rebound on Tuesday after President Donald Trump suggested the U.S. could impose tariffs on Canada and Mexico by Feb. 1, challenging suggestions that his trade policy might be more gradual.

Trump was quoted saying his team was thinking of tariffs around 25% which could be announced on Feb. 1 but offered no other specifics.

On his first day in office, Trump reiterated his promise to tariff and tax foreign countries, but did not officially impose any.