Trump tariffs on Canada, Mexico and China begin Saturday, White House says [Video]

In an apparent ending to weeks of intense speculation, the White House confirmed Friday that President Donald Trump will be leveling aggressive tariffs this weekend on major U.S. trading partners.

Karoline Leavitt, the White House press secretary, said Trump will be implementing 25% tariffs on Mexico and Canada as well as a 10% duty on China, in retaliation for “the illegal fentanyl that they have sourced and allowed to distribute into our country.”

The White House provided few details on exactly how the levies will be meted out, saying that they will be available for public inspection at some point Saturday.

The news sent the Dow Jones Industrial Average down more than 300 points, or about 0.7%. The S&P 500 and Nasdaq Composite both turned in losses as well. All three major benchmarks were up solidly earlier in the day.

“These are promises made and promises kept by the president,” Leavitt said.

There was no word on potential exemptions to …