U.S. stocks ended lower on Friday, with indexes losing ground after the White House said U.S. President Donald Trump will implement on Saturday tariffs of 25% on Canadian and Mexican imports and 10% on Chinese goods.

White House press secretary Karoline Leavitt said that there will be 25% tariffs on imports from Canada and Mexico and 10% tariffs on goods from China starting on Saturday. This fulfills Trump’s repeated promise to implement tariffs on these countries throughout his campaign.

Leavitt implied that there’s not much the impacted parties can do to avoid the duties at this point. “Tariffs are incoming tomorrow…And the reason for that is because both Canada and Mexico have allowed an unprecedented invasion of illegal fentanyl that is killing American citizens—and also illegal immigrants—into our country,” she said.

Trump had been threatening the tariffs to ensure greater cooperation from the countries on stopping illegal immigration and the smuggling of chemicals used for fentanyl.

The move could devastate international trade and manufacturing, especially for an automotive industry with operations integrated across North America.

President Trump will enact 25% tariffs on Mexico and Canada starting Saturday, as well as a 10% tariff on China.

Stocks surrendered early gains and closed lower after the White House said President Donald Trump would impose promised tariffs on some key U.S. trading partners.

U.S. President Donald Trump on Saturday will implement tariffs of 25% on Canadian and Mexican imports and 10% on Chinese goods with immediate effect, White House spokesperson Karoline Leavitt said on Friday.