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 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.

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.