President Trump today said he's moving forward with his plans to slap tariffs on three major U.S.

trading partners. Speaking to reporters, he confirmed 25% tariffs on goods from Mexico and Canada

and 10% on those coming from China, with many to go into effect as soon as Saturday.

The president also said that tariffs on the European Union are to be expected.

The tariffs are going to make us very rich and very strong and we're going to treat other countries

very fairly. But if you think about it, other countries charge us tariffs. We don't charge them

tariffs and it's about time that that changes.

Our White House correspondent Laura Barone Lopez has been following all this and joins us now.

So Laura, what are the potential impacts of the tariffs? How sweeping are they?

They're very sweeping, Omina, and they're unprecedented, according to the economists that we talk to.

Nothing like we've seen in our

lifetimes in terms of the scope of the tariffs, especially being exacted on allies like Mexico

and Canada. And I spoke to Erica York, the VP of Federal Tax Policy at the Tax Foundation,

and she said that these are going to be extremely disruptive because of the fact that these tariffs

are on all goods

on to Mexico and Canada.

And they, she and other economists said that they could upend the supply chain relationships

that the United States has and that ultimately this is going to have a lot of impact on the American consumer. I should note that

Trump also said there would be future tariffs on the European Union and should note that some

economists believe that targeted tariffs are good. President Biden kept in place a number of

President Trump's first term tariffs, but Erica York said that she and her team crunched the numbers at Tax Foundation, and that

this exact percentage of tariffs on Mexico, Canada, and China could cost the average

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