Trump has threatened to impose 25% tariffs on all goods from Canada and Mexico on February 1 in response to what he views as inadequate border security failing to stop drugs and migrants from coming into the United States.

On Monday and Tuesday, President Trump announced that he would be keeping one of his key campaign promises and imposing by Feb. 1 a 25% tariff on goods from Canada and Mexico as punishment for allowing drugs and migrants to cross into the United States as well as an additional 10% tariff on goods from China to penalize the country for sending

The president's pledge to slap 25 percent tariffs on Canada and Mexico could see the prices of goods soar for U.S. consumers.