President Donald Trump's plan to impose tariffs on three of the nation's biggest trading partners Saturday could have sweeping impact across the world, and raise prices for American consumers. Trump will impose 25% tariffs on goods from Canada and Mexico,

Canada and Mexico ordered retaliatory tariffs on American goods in response to sweeping tariffs imposed by President Donald Trump

Experts say the 1977 International Emergency Economic Powers Act is untested for imposing import tariffs and Trump's action will likely face swift court challenges that could set important precedents.