President Donald Trump said in an Oval Office signing ceremony Monday evening that his administration will impose 25% tariffs on Mexico and Canada on February 1, an extraordinary change in North American trade policy that could raise prices for American consumers.

President Donald Trump isn’t expected to carry through on his threat to impose sweeping tariffs on the first day of his presidency, a move that economists have warned could lead to higher prices for Americans and hurt U.

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.