New Delhi, March 4 -- Sticking to his previous stance, U.S. President Donald Trump on Monday reiterated that 25% levies on imports from Mexico and Canada would go into effect on Tuesday, dashing investors' hopes of a last-minute deal to avert the full tariffs on the two U.S. allies.

In addition to confirming that tariffs on the two U.S. neighbors would take effect on Tuesday, Trump on Monday imposed an additional 10% tariff on Chinese imports, doubling the 10% duty he had placed on Beijing in early February.

Trump had previously unveiled-and then paused-blanket tariffs on imports from major trading partners Canada and Mexico in February, accusing them of failing to stop illegal immigration and drug trafficking. The pause is set to expir...