President Donald Trump warned Canada and Mexico to expect tariffs of 25% on exports to the United States starting Saturday. Speaking to reporters in the Oval Office on Thursday, Trump said he was following through on his campaign threat to impose border taxes on America's neighbors immediately to the north and south of the continental United States over inflows of illegal migrants and drugs and large trade deficits.

The 25% tax that President Donald Trump plans to slap as soon as Saturday on imports from Canada and Mexico could drive up the price of everything from gasoline to pickup trucks to the guacamole dip that features so prominently at American Super Bowl parties.

President Donald Trump said his 25% tariffs on Canada and Mexico are coming on Saturday, but he’s still considering whether to include oil from those countries as part of his import taxes. “We may or may not,” Trump told reporters Thursday in the Oval Office about tariffing oil from Canada and Mexico.

Manufacturers from Asia, Europe and elsewhere have poured billions into North American supply chains that could be hit by new taxes on Mexico, Canada and China.

Trump reiterated that he planned to put tariffs on Canada and Mexico from Feb. 1 but markets still don’t know the full extent of the levies.

With less than 24 hours before President Donald Trump's deadline to impose sweeping tariffs on the three biggest US trading partners -- Canada, Mexico and China -- the global economy