Trump Warns Mexico and Canada of 25% Tariffs Starting Feb. 1 (2)

President Donald Trump signaled plans to impose previously threatened tariffs of as much as 25% on Mexico and Canada by Feb. 1, reiterating his contention that America’s closest neighbors and largest trading partners are letting undocumented migrants and drugs flood into the US.

“We’re thinking in terms of 25% on Mexico and Canada, because they’re allowing vast numbers of people” across the border, Trump said in response to questions from reporters in the Oval Office on Monday night. “I think we’ll do it Feb. 1.”

Earlier in the day, Trump said in his inaugural address that “instead of taxing our ...