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PALM BEACH, Fla. — President Donald Trump said Feb. 2 that Americans could feel “some pain” from the emerging trade war triggered by his tariffs against Canada, Mexico and China.

The threat of tariffs has loomed large over U.S. equities. Investors and strategists warn that high levies can reignite inflation in the country, and in turn, weigh on stocks.

The potential fallout depends on the specifics of what President Donald Trump announces. It also depends on how Canada and Mexico respond.

WASHINGTON — President Donald Trump will put in place 25% tariffs on imports from Canada and Mexico and 10% tariffs on goods from China effective Feb. 1, the White House said.

Mexico’s government told President Donald Trump that his plan to place 25% tariffs on its goods would be a mistake that raises costs for U.S. consumers.

Tariffs that President Donald Trump plans to slap on imports from Canada and Mexico as soon as this weekend could drive up the price of  gasoline, pickup trucks, avocados and more.

President Donald Trump said his 25% tariffs on Canada and Mexico are coming on Feb. 1, but he’s still considering whether to include oil from those countries as part of his import taxes.

President Claudia Sheinbaum brushed off a question as to whether Mexico is expecting U.S. President Donald Trump to announce 25% tariffs on Mexican goods Feb. 1.

WASHINGTON — President Donald Trump said Jan. 20 that he expects to put 25% tariffs on Canada and Mexico starting Feb. 1, while declining to flesh out his plans for taxing Chinese imports.

The European Union and Mexico agreed to a revamped free-trade agreement, just as both are under pressure from President-elect Donald Trump, who has threatened them with new tariffs.