The Canadian dollar hit a three-week low against the greenback on Thursday as U.S. President Donald Trump said that tariffs on Canadian goods will go into effect on March 4, clearing up some confusion on the timing and dashing hopes of a reprieve.

President Donald Trump said stiff new tariffs on imports from Mexico and Canada would take effect on April 2, about a month later than an earlier deadline for the levies to take effect, giving the loonie a short-lived boost.