President-elect Donald Trump threatened to impose sweeping new tariffs on Mexico, Canada and China as soon as he takes office as part of his effort to crack down on illegal immigration and drugs. He said he would impose a 25% tax on all products entering the country from Canada and Mexico,

THE ORIGINAL intention was for American presidents to be mere legal executors—not emperors able to impose their will unilaterally. Over time, though, Congress has ceded more and more authority to the executive branch,

(NEXSTAR) — President-elect Donald Trump said Monday that he plans to impose new tariffs on goods from Canada, China, and Mexico on his first day in office. While that day is roughly two months from now, you may already be concerned about how the tariffs could impact your wallet.

President Claudia Sheinbaum suggested Tuesday that Mexico could retaliate with tariffs of its own, after U.S. President-elect Donald Trump threatened to impose 25% import duties on Mexican goods if the country doesn’t stop the flow of drugs and migrants across the border.

Donald Trump loved to use tariffs on foreign goods during his first presidency. But their impact was barely noticeable in the overall economy, even if their aftershocks were clear in specific industries.

The tariffs, if implemented, could dramatically raise prices for American consumers on everything from gas to automobiles to agricultural products.