Trump says 25% tariffs on Canada and Mexico coming on Feb. 1 as he signs several orders on economy [Video]

WASHINGTON (AP) — President Donald Trump said Monday that he expects to put 25% tariffs on Canada and Mexico starting on Feb. 1, while declining to flesh out his plans for taxing Chinese imports.

Trump made the announcement in response to reporters’ questions while signing executive actions in the Oval Office on his first day back in the White House.

Trump threatened tariffs of as much as 60% on China during his campaign, but appeared to temper his plans after a phone call last week with Chinese President Xi Jinping. He said Monday there would be more discussions with his counterpart in the world’s second largest economy.

“We’re going to have meetings and calls with President Xi,” Trump said.

Trump is placing a big bet that his executive actionscan cut energy prices and tame inflation and that the tariffs will strengthen the economy instead of exposing consumers to higher prices. But it’s unclear whether his orders will be enough to foster the growing …