With a Monday evening promise on Truth Social that his incoming administration will slap 25 percent tariffs on all goods from Canada and Mexico — as well as increasing already existing tariffs on China — Trump sent reporters (and investors,

President-elect Donald Trump announced Nov. 25 he would impose sweeping new tariffs on countries he says have allowed illegal immigrants and drugs to enter the United States. If the import tax were implemented,

President Claudia Sheinbaum Pardo said tariffs could cause more inflation and result in job losses for the U.S. and Mexico.

Economists say the tariffs would act like a tax on American consumers, raising prices on any number of products. "We typically think as a rule of thumb that about 75% of the tariff will be passed onto consumers,

If Donald Trump makes good on his threat to slap 25% tariffs on everything imported from Mexico and Canada, the price increases that could follow will collide with his campaign promise to give

Trump's plan for tariffs against Canada and Mexico could dramatically raise prices for Americans and threaten a trade agreement negotiated by his own administration.