US President Donald Trump said that he was thinking of imposing the tariffs on Canada and Mexico by February 1.

Amidst a flurry of executive orders President Trump promised he would sign on day one, he said the much-awaited tariffs would come in February.

President Donald Trump has stated his intention to impose 25% tariffs on all goods coming from Canada and Mexico as soon as February 1st, 2025.

Top Canadian ministers say Canada will be ready to retaliate after President Donald Trump said he was thinking of imposing a 25% tariff on Canada and Mexico on Feb. 1

President Donald Trump said Monday he planned to put a 25% tariff on imports from Canada and Mexico by Feb. 1, but held off on previous pledges of across-the-board tariffs and even higher ones on China.

The president said he planned to put tariffs on America’s neighbors on Feb. 1, as he signed an executive order mandating a sweeping review of U.S. trade policy.

Toronto: Canadian leaders expressed relief Monday that broad tariffs were not applied to Canadian products on the first day of Donald Trump's presidency, but Trump later said he could impose a 25 per cent tariff on Canada and Mexico on February 1.

Tariffs of 25 percent could hit goods from Mexico and Canada entering the U.S. as soon as next month, Donald Trump announced on Monday while signing executive orders, signaling the beginning of a potential trade war that could have major effects on the U.S. economy.

Trump mentioned no specific tariff plans in his inaugural address, but repeated his intention to create the External Revenue Service, a new agency to collect "massive amounts" of tariffs, duties and other revenues from foreign sources.

Earlier in the day, cabinet ministers were careful not to declare victory after Trump was sworn into office without mentioning Canada at all, and with no sign of the punishing tariffs he's been threatening since the November election.

Canadian leaders relieved tariffs not imposed, but Trump threatens 25% tariff on Canada and Mexico on February 1.

Trump threatened tariffs of as much as 60% on China during his campaign but has tempered his plans. Canada and Mexico are now being threatened with a 25% tariff.