U.S. President Donald Trump says that he intends to levy his promised 25 per cent tariffs on Canada and Mexico on Saturday, adding those levies could rise in the future and that a decision on whether that would include Canadian oil would be made Thursday evening.

"We’ll be announcing the tariffs on Canada and Mexico for a number of reasons," Trump told reporters in the Oval Office.

Donald Trump's threat to use his executive order power to impose tariffs on goods entering the US from trading partners Mexico and Canada will hit North America's integrated supply chain and could escalate further.

Canada's federal government has assured Alberta that it will not bear a disproportionate burden of any retaliatory tariffs imposed in response to potential US import levies.

Any Canadian response to U.S. tariffs will be regionally fair and equitable and not single out Alberta, Canada's main oil-producing province, Canada's Energy and Natural Resources Minister Jonathan Wilkinson said on Wednesday.

Alberta businesses could face tariffs on U.S. exports as soon as next month, according to comments made by President Donald Trump on Monday.