White House press secretary Karoline Leavitt said that there will be 25% tariffs on imports from Canada and Mexico and 10% tariffs on goods from China starting on Saturday. This fulfills Trump’s repeated promise to implement tariffs on these countries throughout his campaign.

The White House said Friday that President Donald Trump would impose a 25% tariff on goods coming to the U.S. from Canada and Mexico and a 10% tariff on those from China on Saturday, a move that could drive up prices for products coming into the U.

Stocks surrendered early gains and closed lower after the White House said President Trump would impose promised tariffs on some key U.S. trading partners

The U.S. dollar advanced against major currencies on Friday, while the Canadian dollar weakened and the Mexican peso edged higher after the White House reiterated that President Donald Trump will impose tariffs on Saturday.

The move could devastate international trade and manufacturing, especially for an automotive industry with operations integrated across North America.

President Trump will enact 25% tariffs on Mexico and Canada starting Saturday, as well as a 10% tariff on China.

Stocks surrendered early gains and closed lower after the White House said President Donald Trump would impose promised tariffs on some key U.S. trading partners.