President Donald Trump said he would follow through on his threat to impose 25% tariffs on imports from Canada and Mexico on Feb. 1, citing the flow of fentanyl and large trade deficits as among the reasons for his decision.

President Donald Trump says his 25% tariffs on Canada and Mexico are coming on Saturday. Trump also said he'll "probably” decide on Thursday night whether to include oil from those countries as part of his import taxes.

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.