Tariffs of 25 percent could hit goods from Mexico and Canada entering the U.S. as soon as next month, Donald Trump announced on Monday while signing executive orders, signaling the beginning of a potential trade war that could have major effects on the U.S. economy.

Trump underscored his intention to use tariffs as a tool of international economic policy and an increasingly vital source of government revenue.

U.S. President Donald Trump on Monday said he was thinking of imposing 25% tariffs on imports from Canada and Mexico because they were allowing many people to cross the border as well as fentanyl. He said the action could come on Feb.