U.S. President Donald Trump is expected to announce new tariffs against Canada and Mexico that will begin on March 1, but will include a process for the countries to seek specific exemptions for certain imports,

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.

Tariffs that President Donald Trump plans to slap on imports from Canada and Mexico as soon as this weekend could drive up the price of everything from gasoline and pickup trucks, to Super Bowl party guacamole dip.