Trump underscored his intention to use tariffs as a tool of international economic policy and an increasingly vital source of government revenue.

While much about the threatened tariffs is still unclear, experts predict they would be bad news for all three economies, with few winners.

President Donald Trump signaled plans to impose previously threatened tariffs of as much as 25% on Mexico and Canada by Feb. 1, reiterating his contention that America’s closest neighbors and largest trading partners are letting undocumented migrants and drugs flood into the US.