President-elect Donald Trump's plan to impose 25% tariffs on Canadian and Mexican imports in his first day in office does not exempt crude oil from the trade penalties, two sources familiar with the plan told Reuters on Tuesday.

Mexico and Canada are two of America's biggest trading partners, shipping everything from energy and vehicles to machinery and electronics to the US.

U.S. President-elect Donald Trump's plan to impose 25% tariffs on Canadian and Mexican imports in his first day in office does not exempt crude oil from the trade penalties, two sources familiar with the plan told Reuters on Tuesday.

The president-elect said that he would impose the across-the-board tariffs on Day 1 and that they would stay in place until Canada, Mexico and China halted the flow of drugs and migrants.

The newly elected US President, Donald Trump, confirmed plans to impose tariffs on goods imported from Mexico, Canada, and China. The fulfillment of this campaign promise has caused a shock on global financial markets,