U.S. President Donald Trump is expected to announce new tariffs against Canada and Mexico that will begin on March 1, but will include a process for the countries to seek specific exemptions for certain imports,

President Donald Trump said this week that tariffs on U.S. neighbors Canada and Mexico will arrive Saturday. The two nations are not only close geographically, but economically as well.

Trump had been threatening the tariffs to ensure greater cooperation from the countries on stopping illegal immigration and the smuggling of chemicals used for fentanyl.

President Trump on Thursday reiterated his plans to put a 25% tariff on imports from Mexico and Canada, where automakers build many of their products for sale in the US. Ford CEO Jim Farley believes Trump’s tariff gambit will be a policy issue that extends beyond February, however, but said that Ford has had a gameplan in place.

The 25% tax that President Donald Trump plans to slap as soon as Saturday on imports from Canada and Mexico could drive up the price of everything from gasoline to pickup trucks to the guacamole dip that features so prominently at American Super Bowl parties.

Polymarket traders who bet on Trump imposing a 25% tariff on Mexico and Canada by January 31 could lose money if the implementation is delayed.

President Donald Trump will move forward with new tariffs on Canada, Mexico and China on Saturday, the White House said, affirming he would stick to his February 1 deadline for the new duties that could have widespread effects on the economy.

President Donald Trump will impose 25% tariffs on imports from Canada and Mexico that will go into effect Saturday, the White House says.

New tariffs against Canada and Mexico are expected to begin on March 1 but will include a process for the countries to seek specific exemptions for certain imports, three people familiar with the planning told Reuters.

The U.S. will impose 25% tariffs on Canada and Mexico, along with 10% on China, White House spokeswoman Karoline Leavitt said on Friday, but she declined to say whether there will be exemptions.

Emily Hernandez, a Missouri woman pardoned after her ties to the Jan. 6, 2021, insurrection at the U.S. Capitol, was sentenced Wednesday in connection with a drunken-driving crash. Kash Patel, President Donald Trump's nominee for FBI director, and Sen. Amy Klobuchar, D-Minn., had a tense exchange at Patel's confirmation hearing on Thursday.