Trump Warns 25 Percent Tariffs on Canada, Mexico Are Coming Saturday

The leaders of both Mexico and Canada have said they will retaliate in some manner.

President Donald Trump speaks to journalists in the Oval Office of the White House in Washington on Jan. 30, 2025. Roberto Schmidt/AFP via Getty Images

President Donald Trump said on Thursday that he will likely go ahead with placing 25 percent tariffs on Mexico and Canada starting Feb. 1.

“I’ll be putting the tariff of 25 percent on Canada and Mexico, and we will really have to do that because we have very big deficits with those countries,” he told reporters in the Oval Office. “Those tariffs may or may not rise with time.”