The Trump administration said Saturday it had imposed a 25% tariff on goods from Canada and Mexico and a 10% tariff on China.

President Donald Trump signed an order to put tariffs on U.S. neighbors Canada and Mexico, as well as China, starting Tuesday.

Oil prices jumped at the market open on Monday after U.S. President Donald Trump imposes tariffs on Canada, Mexico and China, raising fears of a trade war and disruption in crude supply from two of the United States' biggest suppliers.

Canada’s prime minister and Mexico’s president ordered retaliatory tariffs on goods from the U.S., following through with their threats after U.S. Donald Trump sparked a trade war by imposing sweeping tariffs on imports from Canada,

President Donald Trump said on Sunday the sweeping tariffs that he has imposed on Mexico, Canada and China may cause "some pain" for Americans, as Wall Street and the largest U.S. trading partners signaled hope that the trade war would not last long.

Trump knows the United States has more leverage over its neighbors than they do over his country. But exploiting that position of strength could cause a historic rupture.