Trump pledged in his inaugural address that tariffs would be coming in a speech in which he promised a golden era for America. He later said Canada and Mexico could be hit with the tariffs as soon as Feb. 1, though he signed an executive order requesting a report coordinated by the Secretary of Commerce by April. 1.

The President has proposed imposing 25% tariffs on Mexico and Canada starting February 1st. During an Oval Office address this week, Trump cited concerns about border issues and drug trafficking.

Canadian Prime Minister Justin Trudeau is joined by Minister of Finance Dominic LeBlanc, (back left to right), Minister of Foreign Affairs Melanie Joly, Minister of Public Safety David McGuinty, as he holds a press conference during a cabinet retreat at Chateau Montebello in Montebello on Jan 21. (AP)