Trump says his administration is “doing very well” in early negotiations with other countries who are set to soon face steep tariffs on their U.S. exports.

“I call them tailored deals, not off the rack,” Trump said at an executive order signing event at the White House.

“These are tailored, highly tailored deals,” he said.

Trump said representatives from Japan and South Korea will be flying to the U.S. “to make a deal.”

At that rate, none of the 86 countries set to face new, so-called reciprocal tariffs will be able to head off the new duties before they take effect at 12:01 a.m. ET Wednesday.

— Kevin Breuninger

Canada reconfirmed plans to implement 25% retaliatory tariffs on U.S.-made vehicles into Canada, saying the new levies will go into effect at 12:01 a.m. ET Wednesday.

The response includes 25% tariffs on vehicles from the U.S. that are not compliant with the United States-Mexico-Canada Agreement, or USMCA, as well as non-Canadian and non-Mexican content of USMCA-compliant fully assembled vehicles imported into Canada from the U.S.

The latter part means that even if a vehicle made by General Motors, Ford Motor or Stellantis in the U.S. is compliant with USMCA, the parts that aren’t from Canada and Mexico will be taxed.

The traditional “Detroit automakers” are among the top-selling car companies in Canada, but the country’s overall market is far smaller than the U.S., at roughly 2 million light-duty vehicles in Canada compared with 16 million or so in the U.S.

Canadian officials said “a remission framework for auto producers that incentivizes production and investment in Canada, and helps maintain jobs in the country, will also be implemented.”

Canada’s retaliatory tariffs also do not include auto parts, which Trump expects to implement on non-U.S. components by May 3.

 — Michael Wayland