President Donald Trump is expected to outline his trade policy for his second term in an executive action Monday. But that action – described by sources as a “placeholder” – won’t institute new global tariffs that Trump has promised would raise trillions of dollars.

President Trump said Monday evening from the White House that he is aiming to place 25% tariffs on imports from Canada and Mexico on Feb. 1. Trump made the comment even as he plans to direct federal agencies to analyze federal trade practices and policies with China and North American allies.

Trump in response to a reporter’s question said the administration was considering imposing tariffs of 25% on imports from Mexico and Canada as soon as Feb. 1. The moves, if implemented, would kickstart a long-expected trade war between the three countries.

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.

President Trump on Monday indicated his administration would impose 25 percent tariffs on imports from Mexico and Canada beginning Feb. 1. “We are thinking in terms of 25% on Mexico and Canada

Trump made the threat against the two major US trading partners hours after taking the oath of office -- and promised to make liberal use of tariffs as a foreign policy tool.

Canadian leaders expressed relief that sweeping tariffs were not applied to Canadian products on the first day of Donald Trump’s presidency and that he did not mention America’s major trading partner

President Donald Trump said Monday that he expects to put 25% tariffs on Canada and Mexico starting on Feb. 1, while declining to flesh out his plans for taxing Chinese imports. Trump made the announcement in response to reporters' questions while signing executive actions in the Oval Office on his first day back in the White

President Donald Trump stopped short of imposing tariffs on Canada on day one but said they may come as soon as 1 February.

President Donald Trump said Monday that he expects to put 25% tariffs on Canada and Mexico starting on Feb. 1, while declining to flesh out his plans for taxing Chinese imports.