Canadian leaders expressed relief that broad tariffs were not applied to Canadian products on the first day of Donald Trump’s presidency.

The dollar partially rebounded on Tuesday after sliding the day before as President Donald Trump suggested the U.S. could impose tariffs on Canada and Mexico by Feb. 1, challenging suggestions his trade policy may be more gradual.

President Donald Trump said in an Oval Office signing ceremony Monday evening that his administration will impose 25% tariffs on Mexico and Canada on February 1, an extraordinary change in North American trade policy that could raise prices for American consumers.