Experts warned that tariffs could increase construction costs and lead to higher mortgage rates, further eroding affordability in the U.S. housing market.

White House press secretary Karoline Leavitt said that there will be 25% tariffs on imports from Canada and Mexico and 10% tariffs on goods from China starting on Saturday. This fulfills Trump’s repeated promise to implement tariffs on these countries throughout his campaign.

The White House confirmed on Friday that tariffs against goods from Canada, Mexico and China will take effect Saturday, as President Trump has threatened. Press secretary Karoline Leavitt told

President Donald Trump's White House released a statement raging at the Wall Street Journal for slamming the tariffs recently placed on Canada and Mexico.

The move could devastate international trade and manufacturing, especially for an automotive industry with operations integrated across North America.

The White House said Friday that President Donald Trump would impose a 25% tariff on goods coming to the U.S. from Canada and Mexico and a 10% tariff on those from China on Saturday, a move that could drive up prices for products coming into the U.

Trump had been threatening the tariffs to ensure greater cooperation from the countries on stopping illegal immigration.

President Donald Trump said he will impose tariffs of 25% on exports to the United States and 10% from Canada.

U.S. stocks fall on Friday after the White House says Canada, Mexico and China tariffs will start Saturday. Still, major indexes finish January ahead.