Trump, on his first day in office, suggested he may do just that. Trump has threatened to impose 25% tariffs on all goods from Canada and Mexico on February 1 in response to what he views as inadequate border security failing to stop drugs and migrants from coming into the United States.

Trump plans 25% tariffs on Canada, Mexico. What will it mean for Iowa's economy, farmers? Last time it left a $2 billion dent

President Donald Trump doubled down this week on his plans for an across the board 25% tariff on goods imported from Canada and Mexico, as well an additional 10% on China, countries that make up more than a third of US Trade.

As U.S. President Donald Trump mulls imposing 25% duties on imports from Canada and Mexico on Feb. 1, focus has shifted to the sectors likely to bear the brunt of the tariffs. About 28%, or about $844 billion,

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

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.

Trump tested the waters on tariffs during his first four years in office. Almost immediately, “Trump hit a slew of countries with tariffs on steel and aluminum,” according to the New York Times, then “wielded those taxes as leverage against Canada and Mexico to renegotiate NAFTA.”

As U.S. President Donald Trump mulls imposing 25% duties on imports from Canada and Mexico on Feb. 1, focus has shifted to the sectors likely to bear the brunt of the tariffs.

North American car companies have operated across borders for three decades. Tariffs would raise prices and cost jobs in the short run, analysts say.