KEY TAKEAWAYS President Donald Trump said he would go ahead with plans to impose 25% tariffs on imports from the U.S.'s two largest trading partners, Canada and Mexico, on Saturday.Trump said Thursday that the tariffs are aimed at getting Ottawa and Mexico City to stem the flow of drugs and migrants into the U.

With a decision on oil imminent, the U.S. President repeated his three reasons for imposing tariffs: illegal migration, fentanyl smuggling across the border and imbalances on trade

Commerce nominee Howard Lutnick says U.S. tariffs against Canada could come in two steps, with the first blow coming as early as Saturday.