President Donald Trump said in an Oval Office signing ceremony Monday evening that his administration will impose 25% tariffs on Mexico and Canada on February 1, an extraordinary change in North American trade policy that could raise prices for American consumers.

Canadian leaders expressed relief that broad tariffs were not applied to Canadian products on the first day of Donald Trump’s presidency.

By David Lawder, Andrea Shalal and Jarrett Renshaw WASHINGTON (Reuters) -President Donald Trump did not immediately impose tariffs on Monday as previously promised but said he was thinking about imposing 25% duties on imports from Canada and Mexico on Feb.