Amidst a flurry of executive orders President Trump promised he would sign on day one, he said the much-awaited tariffs would come in February.

President Donald Trump said Monday he planned to put a 25% tariff on imports from Canada and Mexico by Feb. 1, but held off on previous pledges of across-the-board tariffs and even higher ones on China.

The president said he planned to put tariffs on America’s neighbors on Feb. 1, as he signed an executive order mandating a sweeping review of U.S. trade policy.

US President Donald Trump said that he was thinking of imposing the tariffs on Canada and Mexico by February 1.

Toronto: Canadian leaders expressed relief Monday that broad tariffs were not applied to Canadian products on the first day of Donald Trump's presidency, but Trump later said he could impose a 25 per cent tariff on Canada and Mexico on February 1.

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.

Canada's outgoing prime minister and the leader of the country's oil rich province of Alberta are confident Canada can avoid the 25% tariffs President Donald Trump says he will impose on Canada and Mexico on Feb.

Earlier in the day, cabinet ministers were careful not to declare victory after Trump was sworn into office without mentioning Canada at all, and with no sign of the punishing tariffs he's been threatening since the November election.

Top Canadian ministers say Canada will be ready to retaliate after President Donald Trump said he was thinking of imposing a 25% tariff on Canada and Mexico on Feb. 1

Trump mentioned no specific tariff plans in his inaugural address, but repeated his intention to create the External Revenue Service, a new agency to collect "massive amounts" of tariffs, duties and other revenues from foreign sources.

“If it’s a little inflationary, but it’s good for national security, so be it. I mean, get over it,” JPMorgan Chase CEO Jamie Dimon told CNBC on Wednesday from the World Economic Forum in Switzerland. “National security trumps a little bit more inflation.”

President Donald Trump said he planned to impose previously threatened tariffs of as much as 25 percent on Mexico and Canada by Feb. 1, reiterating his contention that America’s two immediate neighbors are letting undocumented migrants and drugs flood into the country.