Trump plans for 25% tariffs to start Feb. 1

EL PASO, Texas (KVIA) -- President Donald Trump said in an Oval Office signing ceremony Monday evening that his administration will impose 25% tariffs on Mexico and Canada starting February 1, according to a report from CNN.

In a previous interview with ABC-7, officials from the Borderplex Alliance said the tariff would seriously harm economic development in the borderland "and diminish our nation’s competitiveness."

"The Borderplex region, which thrives on cross-border commerce, stands to lose significantly from these tariffs," Borderplex Alliance CEO Jon Barela said in a statement released Tuesday morning.

Trump initially announced his plans for the tariffs in a Truth Social post on Nov. 25.

“This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!" Trump said.

Barela noted that the "free flow of goods and services across borders" is vital to creating jobs and developing communities.

"Imposing these tariffs risks reversing years of progress in building a robust, integrated economy that benefits both sides of the border and creates a chilling effect on regional and national economic growth for years to come," he added.