The president is also considering hefty new tariffs on the European Union and on specific goods, such as oil and gas, at a later date.

President Donald Trump has pushed into new trade law territory with an emergency sanctions law to justify punishing 25% tariffs on Canadian and Mexican imports and an extra 10% duty on Chinese goods to curb fentanyl and illegal immigration into the U.

American importers will pay a new 25-percent tax on goods from Canada and Mexico and a 10-percent levy on products from China, the president said.