President Donald Trump will move forward with aggressive new tariffs on Canada, Mexico and China on Saturday, the White House said, affirming he will stick to his February 1 deadline for the new duties that could have widespread effects on the economy.

WASHINGTON—President Trump and Mexican President Claudia Sheinbaum said that they reached an agreement to put tariffs on Mexico on hold for a month, following a telephone call in which both leaders agreed to take joint measures to fight fentanyl trafficking across the U.