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.

Trump reiterated Thursday that tariffs are coming, even as his advisers are considering several offramps to avoid enacting universal tariffs on Mexico and Canada, people familiar with the matter say.

Around 90% of auto exports from both Mexico and Canada go to the U.S., according to the Mexican Automotive Manufacturers' Association (AMIA) and the Canadian Vehicle Manufacturers' Association. German automakers,

General Motors, the largest producer of cars in Mexico, won’t provide details on how it would react if President Trump imposes 25 percent tariffs from the two countries.

Trump has said he is considering imposing 25% tariffs on both countries by 1 February. He has previously tied the tariffs threat to ending illegal migration and drugs crossing into the US through its southern and northern borders.

President Donald Trump's nominee to run the Commerce Department, Howard Lutnick, said on Wednesday that Canada and Mexico can avoid looming U.S. tariffs if they act swiftly to close their borders to fentanyl,