Trump said in an Oval Office signing ceremony on Monday that his administration will impose a 25% tax on goods from Canada and Mexico that may come as soon as February 1 – a move that could raise prices for American consumers.

We aim to maintain good relations with the USA. Still, the government will protect Canadians if the USA imposes a 25% tariff on imports from Canada, declared Prime Minister Justin Trudeau on Tuesday.

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