President Trump is using the threat of stiff tariffs on goods from Canada and Mexico to pressure the two nations to start renegotiating a continental trade deal.

While much about the threatened tariffs is still unclear, experts predict they would be bad news for all three economies, with few winners.

President Donald Trump said in an Oval Office signing ceremony Monday evening that his administration will impose 25% tariffs on Mexico and Canada on February 1, an extraordinary change in North American trade policy that could raise prices for American consumers.

Trump has shown a willingness to move swiftly on tariffs in recent days without allowing for drawn-out talks. On Sunday, Trump announced—and then backed off—a threat to impose

Today, reporter Robert Tuttle looks at the close integration of US-Canadian oil markets and what that means for Donald Trump’s tariff plans. Among US President Donald Trump’s flurry of threats during his first week in office was a vow to impose 25% tariffs on imports from Canada.

Trump said in an Oval Office signing ceremony on Monday that his administration will impose a 25% tax on goods from Canada and Mexico that may come as soon as February 1 – a move that could raise prices for American consumers.