U.S. President Donald Trump is pushing a plan to explicitly use revenue from higher tariffs on imported goods to help pay for extending trillions of dollars in tax cuts, an unprecedented shift likely to face opposition from many of his fellow Republicans in Congress.

The dollar touched a fresh two-week low on Wednesday, as a lack of clarity on President Donald Trump's plans for tariffs kept financial markets guessing and left the greenback struggling to regain ground against major currencies.

The president said he will impose tariffs Feb. 1 on products from Canada, Mexico and China, countries that together account for more than a third of U.S. trade.

President Donald Trump said a 25% tariff on Canada and Mexico could come on February 1 and that a universal tariff isn't off the table.