On February 1st, three people familiar with the matter said that Trump's tariffs on Mexico and Canada will be implemented from March 1st, but the plan will include a process for these countries to seek specific exemptions for certain imports. The people familiar with the matter said they did not know the details of the final tariff rate, but pointed out that Trump has always said that he plans to announce a 25% tariff on imports from these two countries on Saturday. Separately, an administration official said that Trump is reviewing the tariff plan on Friday, which may allow some exemptions. However, any exemptions will be "very small". Affected by the news, the Canadian dollar and the Mexican peso strengthened, and the US dollar fell below 1.44 against the Canadian dollar USD/CAD, down 0.7% in the day. The dollar fell more than 1% against the Mexican peso USD/MXN.