AsianFin -- The United States may impose 25% tariffs on imports from Mexico and Canada beginning February 1, former President Donald Trump announced as he signed several executive orders shortly after his inauguration.

"We’re considering a 25% tariff on Mexico and Canada because they are allowing vast numbers of people—and Canada’s a very bad abuser as well—to cross the border, along with fentanyl," Trump stated from the Oval Office on Monday evening.