The White House said Friday that President Donald Trump would impose a 25% tariff on goods coming to the U.S. from Canada and Mexico and a 10% tariff on those from China on Saturday, a move that could drive up prices for products coming into the U.

President Trump will enact 25% tariffs on Mexico and Canada starting Saturday, as well as a 10% tariff on China.

Stocks surrendered early gains and closed lower after the White House said President Donald Trump would impose promised tariffs on some key U.S. trading partners.

The U.S. dollar advanced against major currencies on Friday, while the Canadian dollar weakened and the Mexican peso edged higher after the White House reiterated that President Donald Trump will impose tariffs on Saturday.

White House press secretary Karoline Leavitt said that there will be 25% tariffs on imports from Canada and Mexico and 10% tariffs on goods from China starting on Saturday. This fulfills Trump’s repeated promise to implement tariffs on these countries throughout his campaign.

U.S. President Donald Trump on Saturday will implement tariffs of 25% on Canadian and Mexican imports and 10% on Chinese goods with immediate effect, White House spokesperson Karoline Leavitt said on Friday.

President Donald Trump will move forward with aggressive new tariffs on Canada, Mexico and China on Saturday, the White House said, affirming he will stick to his February 1 deadline for the new duties that could have widespread effects on the economy.

Trump had been threatening the tariffs to ensure greater cooperation from the countries on stopping illegal immigration.

Canadian Prime Minister Justin Trudeau says tariffs would have “disastrous consequences” for the U.S., putting American jobs at risk and causing prices to rise.