President Donald Trump said he would follow through on his threat to impose 25% tariffs on imports from Canada and Mexico on Feb. 1, citing the flow of fentanyl and large trade deficits as among the reasons for his decision.

We don’t need the products that they have. We have all the oil that you need. We have all the trees you need,” he said.

Trump said his decision will be based on whether the price of oil charged by the two trading partners is fair, although the basis of his threatened tariffs pertains to stopping illegal immigration