The Mexican peso fell 1% against the dollar in a volatile session on Thursday after U.S. President Donald Trump reiterated his threat to impose 25% tariffs on Mexico and Canada, two of its top trade partners.

President Donald Trump’s renewed pledges to slap 25% tariffs on imports from Canada and Mexico on Feb. 1 jolted foreign exchange markets late in the New York trading session, sending currencies from both countries plunging against the US dollar.

Trump also said he was still considering new tariffs on Chinese goods, citing its part in the fentanyl trade. He has threatened a 10% duty on all Chinese goods, after imposing pun