New trade penalties against Canada, Mexico and China that President Donald Trump plans to impose Saturday represent an aggressive early move against America's three largest trading partners, but at the risk of higher inflation and possible disruptions to the global economy.

U.S. stocks ended lower on Friday, with indexes losing ground after the White House said U.S. President Donald Trump will implement on Saturday tariffs of 25% on Canadian and Mexican imports and 10% on Chinese goods.

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.

Leavitt implied that there’s not much the impacted parties can do to avoid the duties at this point. “Tariffs are incoming tomorrow…And the reason for that is because both Canada and Mexico have allowed an unprecedented invasion of illegal fentanyl that is killing American citizens—and also illegal immigrants—into our country,” she said.

Stocks on Wall Street surrendered early gains and closed broadly lower Friday after the White House said President Donald Trump would impose promised tariffs on key U.S. trading partners. The S&P 500 fell 0.

President Donald Trump will move forward with aggressive new tariffs on Canada, Mexico and China on Saturday, the White House said, affirming he will stick to his February 1 deadline for the new duties that could have widespread effects on the economy.

President Donald Trump will put in place 25% tariffs on imports from Canada and Mexico and 10% tariffs on goods from China effective on Saturday, the White House said, but it provided no word on whether there would be any