The White House claimed victory in a showdown with Colombia over accepting flights of deported migrants from the U.S. on Sunday, hours after President Donald Trump threatened steep tariffs on imports and other sanctions on the longtime U.

The US and Colombia pulled back from the brink of a trade war after the White House said the South American nation had agreed to accept military aircraft carrying deported migrants.

The Mexican peso tumbled on Monday as investors worried that trade disputes would again whipsaw markets after U.S. President Donald Trump’s overnight threat to impose steep tariffs on Colombia.

Investing.com -- As President Trump’s February 1 tariff deadline approaches, Wolfe Research warns that "any given day we could wake up to another situation like Colombia," referencing last weekend’s swift tariff threats that led to a policy reversal from Bogotá.

After US President Donald Trump threatened Colombia with a 25% tariff if the country didn't agree to accept deported migrants, the White House reported that South American nation agreed to Trump's terms.

Trump indicated the 25% rate could represent a floor, saying that the tariff levels 'may or may not rise with time.”

President Donald Trump said he would follow through on his threat to impose 25% tariffs on imports from Canada and Mexico on Feb. 1, citing the flow of fentanyl and large trade deficits as among the reasons for his decision.

Shortly after last November’s election, Trump threatened China, Mexico, and Canada with 10% and 25% tariffs, respectively.

President Donald Trump's nominee for commerce secretary, billionaire financial-services executive Howard Lutnick, made an effort Wednesday to ease concerns about potentially inflationary 25% tariffs against Canada and Mexico that could hit Saturday, as he described them as avoidable and part of a "short-term issue."

Leavitt told reporters in her first White House press briefing that Trump also is still "very much" considering fresh tariffs on China for Saturday

Having already forced Colombia to accept deportees by threatening a 25% tariff, President Donald Trump is readying the same move against Canada and Mexico as soon as Saturday.

Following his inauguration, Trump imposed a Feb. 1 deadline for both countries to begin complying with his border and immigration policies or risk the tariffs.