President Donald Trump signaled plans to impose previously threatened tariffs of as much as 25% on Mexico and Canada by Feb. 1, reiterating his contention that America’s closest neighbors and largest trading partners are letting undocumented migrants and drugs flood into the US.

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 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.