Trump underscored his intention to use tariffs, a tax on foreign goods, as a tool of international economic policy and an increasingly vital source of government revenue.

North American car companies have operated across borders for three decades. Tariffs would raise prices and cost jobs in the short run, analysts say.

President Trump said Monday evening from the White House that he is aiming to place 25% tariffs on imports from Canada and Mexico on Feb. 1. Trump made the comment even as he plans to direct federal agencies to analyze federal trade practices and policies with China and North American allies.