This browser does not support the Video element.
Trump tariffs on Mexico, Canada: What to know
A White House spokesperson says President Trump will impose 25% tariffs on imports from Mexico and Canada, effective February 1.
HOUSTON - President Donald Trump is moving forward with tariffs against several countries starting on Saturday.
Trump tariffs on three countries
Big picture view:
Imports from Mexico and Canada are valued at more than $900 billion.
Without restrictions, prices would rise for things like food, gas, vehicles, and commodities.
Also, an additional 10% tariff would be imposed on Chinese imports.
Financial observers say the move is a "classic" Trump negotiating tactic.
Get news, weather and so much more on the new FOX LOCAL app
What they're saying:
"You may like it, you may hate it, but this is 'Negotiating 101'," says Houston financial strategist Lance Roberts, "If you're going to argue a position, you've got to have some leverage. You can't negotiate from a position of weakness to get an agreement that's favorable to whatever outcome you want it to be."
This browser does not support the Video element.
The Source: Wall Street Journals, Associated Press, Reuters