Goldman Views Trump's Day One Trade Policy: "A More Benign Tone On Tariffs"

President Donald Trump said Monday evening that he plans to impose trade tariffs of as much as 25% on Mexico and Canada by the start of February. 

"We're thinking in terms of 25% (tariffs) on Mexico and Canada because they're allowing a vast number of people" over the southern and northern borders, Trump told reporters in the Oval Office on Monday night. He noted that Canada is "a very bad abuser" and said the target date for levies would be, "I think, Feb. 1."

Earlier in the day, during the inaugural address, Trump told the American people inside the US Capitol Rotunda, "Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens." He stopped just short of pointing out which countries would be targeted in the first round of the trade war.