Momentum is growing among President Trump’s advisers to place 25% tariffs on Mexico and Canada as soon as Saturday, bucking conventional wisdom in Washington and on Wall Street that he would back off the threatened levies as he has in the past in exchange for concessions.

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.

Trump has threatened to impose 25% tariffs on all goods from Canada and Mexico on February 1 in response to what he views as inadequate border security failing to stop drugs and migrants from coming into the United States.