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.

President Trump said Monday that he expects to put 25% tariffs on Canada and Mexico starting Feb. 1, while declining to flesh out his plans for taxing Chinese imports.

President Donald Trump told reporters hours after taking office that he was considering levying a blanket duty on Mexico and Canada on Feb. 1.