The Trump administration is set to slap tariffs on products from Mexico, Canada, and China, which make up the three largest U.S. trading partners.

Axar.az reports citing ABC News,the move could impact prices for everything from gasoline to avocados to iPhones.

President Donald Trump set March 4 as the start date for 25% tariffs on imports from Mexico and Canada, as well as an additional 10% tariff on Chinese goods -- for a total of 20%, as of an amended executive order on Monday afternoon.

Speaking at the White House on Monday afternoon, Trump confirmed that the tariffs would take effect the following day.