President Donald Trump took action Saturday to impose new tariffs on Canada, Mexico and China, the White House said, which could have a sweeping impact on the American economy. The additional tariffs on Canadian and Mexican goods will be 25 percent,

Canada is poised to hit back by slapping tariffs on US products, with PM Justin Trudeau to make an announcement later on Saturday.

President Donald Trump signed an executive order Saturday imposing a 25% tariff on imports from Mexico and Canada and 10% on imported Chinese goods, according to multiple reports, reflecting his campaign promises to implement high tariffs, against the views of many economists who believe Trump’s plan would burden everyday consumers.