Trump threatens 25% tariffs on Canada and Mexico as soon as Feb. 1

President Trump threatened the tariffs as he signed a raft of executive orders in front of reporters in the Oval Office.

“We’re thinking in terms of 25% on Mexico and Canada because they are allowing vast numbers of people … and fentanyl to come in,” Trump said.

“I think we’ll do it on Feb. 1,” he added.

Trump has long spoken of restricting immigration at the United States’ southern border with Mexico. In the off-the-cuff remarks at the White House, the president said that “Canada was a very bad abuser also.”

The president in his inaugural address earlier in the day vowed to “overhaul” US trade policy so that it would place “America first.” He also said he would change the name of the “Gulf of Mexico” to the “Gulf of America.”

Trump did not in his inaugural address provide any specifics on tariffs. But he has threatened the United States’ neighbors with 25% tariffs since November.

The tariffs are seen in some quarters as a negotiating tool to get concessions on other issues such as immigration.

Both Canada and Mexico have threated to retaliate if the Trump administration imposes tariffs on them.