On Thursday, U.S. President Donald Trump announced that he would soon decide whether to exempt Canadian and Mexican oil imports from the 25% tariffs set to take effect on Saturday.

Trump indicated that the imposition of tariffs on Canadian and Mexican oil would depend on factors like prices and how the two countries handle the issue. “We may or may not [impose the tariffs]. We’ll probably make that decision tonight,” he said.

Trump reminded that the Saturday deadline for tariffs on imports from Canada and Mexico aims to push the two largest U.S. trading partners to take stronger action against illegal migration and the flow of fentanyl into the U.S.

The president also emphasized that the tariffs would be imposed for various reasons and that the tariff rate could potentially increase in the future.

Regarding China, Trump mentioned he was still weighing new tariffs on Chinese goods due to its involvement in the fentanyl trade. He threatened a 10% duty on all Chinese imports, following the imposition of tariffs on roughly $370 billion worth of Chinese goods during his first term.

“We’re considering something with China because they are sending fentanyl into our country, causing hundreds of thousands of deaths. China is going to end up paying a tariff for that. We’re working on it,” Trump said. “We’ll decide what it will be, but China must stop sending fentanyl and killing our people.”