President Donald Trump said a 25% tariff on Canada and Mexico could come on February 1 and that a universal tariff isn't off the table.

Trump said in an Oval Office signing ceremony on Monday that his administration will impose a 25% tax on goods from Canada and Mexico that may come as soon as February 1 – a move that could raise prices for American consumers.

President Trump is using the threat of stiff tariffs on goods from Canada and Mexico to pressure the two nations to start renegotiating a continental trade deal.