North American car companies have operated across borders for three decades. Tariffs would raise prices and cost jobs in the short run, analysts say.

President Donald Trump told reporters hours after taking office that he was considering levying a blanket duty on Mexico and Canada on Feb. 1.

The decision from incoming President Donald Trump contradicts his promise to impose a 25 percent tariff on Mexico and Canada on his first day in office.

While much about the threatened tariffs is still unclear, experts predict they would be bad news for all three economies, with few winners.

President Trump held off imposing broad tariffs on Day 1 of his presidency, instead ordering reviews of trade and currency imbalances.Yes, but: In Oval Office remarks, he also raised the prospects of huge tariffs on Canada and Mexico in a matter of days.