The auto industry is bracing for impact after President Donald Trump confirmed Thursday that he will impose 25% tariffs on Canada and Mexico starting Saturday.

Donald Trump's threat to use his executive order power to impose tariffs on goods entering the US from trading partners Mexico and Canada will hit North America's integrated supply chain and could escalate further.

President Donald Trump's threats to impose punishing tariffs on Canada and Mexico may be part of a strategy to gain leverage ahead of new negotiations on a regional trade agreement, experts said. Trade experts note that while Trump may make good on his threat,