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 confirmed Thursday that he’s planning to levy a 25% tariff on imports from Mexico and Canada starting Saturday—with broader import taxes potentially soon following—reflecting his campaign promises to implement high tariffs,