Some believe the US president's tariffs could trigger higher prices and potentially disrupt the energy, car, lumber and agricultural sectors.

Donald Trump has said he will place 25% tariffs on imports from Canada and Mexico and 10% tariffs on goods from China from today.

The move raises fears of price increases for US consumers as the US president suggested he would try to blunt the impact on oil imports.

He has been threatening the tariffs to ensure greater co-operation from the countries on stopping illegal immigration and the smuggling of chemicals used for fentanyl.

And he has also pledged to use tariffs to boost domestic manufacturing.

Ed Conway Analysis:
Trump's changed tack to focus tariffs on Mexico and Canada - why?

"Starting tomorrow, those tariffs will be in place," White House press secretary Karoline Leavitt told reporters on Friday.

"These are promises made and promises kept by the president."

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