Donald Trump introduced tariffs on Mexico, Canada and China on Friday, sparking fears of a global trade war and inflation crisis.

The president imposed a 25 per cent tax on goods coming into America from its neighbours and 10 per cent on China, demanding that they stem the flow of illegal migrants and drugs.

Mr Trump was expected to impose tariffs on day one of his presidency but gave Canada, Mexico and China a limited window for negotiation.

Karoline Leavitt, 27, the White House press secretary, denied “false” reports Mr Trump was considering a further delay.

“The February 1 deadline that President Trump put into place in a statement several weeks ago continues,” she said.