Outgoing Canadian Prime Minister Justin Trudeau says prices for Americans will go up if President Donald Trump follows through with his vow to apply sweeping tariffs on Canadian products.

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.

The government is preparing for the possibility that the incoming U.S. administration will impose high tariffs on Canadian goods, setting the close allies up for a showdown.