Trump plans to impose tariffs on Canada and Mexico starting February 1.

President Trump stated on Monday evening that he plans to impose a 25% tariff on products from Canada and Mexico starting February 1, and may levy tariffs on most imported goods in the United States. At the same time, he signed an executive order instructing federal agencies to conduct a comprehensive review of U.S. trade policy before this spring.

On Monday at the Oval Office, Trump told reporters that he is considering imposing tariffs on Mexican and Canadian products because these two countries allow "a large number of people to enter, along with fentanyl." When asked when these measures would be implemented, Trump said: "I think we will implement it on February 1."