Increased tariffs on Canada, Mexico could hike prices in the U.S.

Increased tariffs on Canada, Mexico could hike prices in the U.S. 04:16

On the day of his inauguration, President Trump threatened steep new tariffs against key U.S. trading partners. Now he may be primed to deliver.   

Mr. Trump on Thursday reiterated his earlier threat this month that he could announce 25% tariffs against Canada and Mexico as soon as Feb. 1, telling reporters from the Oval Office that the duties “may or may not rise with time.” He had previously warned China could face a 10% tariff. 

Economists have