US President Donald Trump has announced his intention to impose a 25% tariff on goods imported from Canada and Mexico. He revealed this plan on Monday, shortly after taking office, and suggested the tariffs might begin on February 1.

While signing various orders at the White House, Trump said, “We’re thinking in terms of 25 per cent on Mexico and Canada because they’re allowing vast numbers of people to come in.”

This announcement comes after earlier reports indicated that Trump would not impose tariffs on trading partners like Canada, Mexico, or China. Instead, he had planned to instruct trade authorities to review trade relationships with these countries.

Trump’s statement marks a return to his previous stance on tariffs. After his election win in November, he warned about potential tariffs on goods from Canada, Mexico, and China. During his first term as president (2017–2021), Trump implemented a variety of tariffs on imported goods, which affected trade relations globally.

Tariffs are additional charges applied to imported goods, paid when the goods enter the country. These policies often aim to protect domestic industries but can lead to higher prices for consumers and tensions with trading partners.

Trump’s potential new tariffs have raised concerns among trade partners, including the European Union, about possible economic impacts. The next few weeks will reveal how these decisions might affect trade relations with Canada, Mexico, and other countries.