THE PESO declined against the dollar on Tuesday after US President Donald J. Trump said the tariffs he plans to impose on Mexican and Canadian exports are on schedule for next month.

It closed at P57.93 a dollar, weakening by 12.2 centavos from its P57.808 finish on Monday, according to Bankers Association of the Philippines data posted on its website.

The peso opened at P57.90 against the dollar. Its worst showing was at P57.95, while its intraday best was at P57.87 against the greenback. Dollars exchanged rose to $1.38 billion from $1.17 billion on Monday.

“The dollar-peso ended higher on worsening sentiment after Trump said that the tariffs on Canada and Mexico will push through in March,” a trader said by telephone.

The dollar edged up slightly on Tuesday after falling to its lowest in more than two months at the start of the week, buoyed by safe-haven flows after US President Donald Trump said tariffs on Canadian and Mexican imports are “on time and on schedule” despite efforts by the countries to beef up border security and halt the flow of fentanyl to the US ahead of a March 4 deadline, Reuters reported.

The dollar index was generally stronger due to Mr. Trump’s comments, Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said in a Viber message.

The dollar index steadied at 106.59, rebounding from a more than two-month trough of 106.12 hit in the previous session.

The trader expects the peso to trade from P57.80 and P58.10 a dollar on Wednesday, while Mr. Ricafort sees it ranging from P57.80 to P58. — Aaron Michael C. Sy