Washington | President Donald Trump said he would place 25 per cent tariffs on imports from Canada and Mexico and 10 per cent tariffs on goods from China effective on Saturday (Sunday AEDT), raising the spectre of swift price increases for US consumers as he suggested he would try to blunt the impact on oil imports.

Mr Trump had been threatening the tariffs to ensure greater co-operation from the countries on stopping illegal immigration and the smuggling of chemicals used for fentanyl, but he has also pledged to use tariffs to boost domestic manufacturing and raise revenues for the federal government.

AP