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 American families a break from inflation.

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

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,

Prime Minister Justin Trudeau has told Donald Trump that Americans would also suffer if the president-elect follows through on a plan to impose sweeping tariffs on Canadian products.

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.

President-elect Donald Trump has announced tariffs on Mexico, China, and Canada as soon as he takes office in January.David Williams, with the Taxpayers Prote

President-elect Donald Trump is pledging 25% tariffs on all imports from Mexico and Canada and an extra 10% fee on all imports from China. UH economist Ed Hirs says that’s a recipe for inflation and recession.

On Monday, Trump threatened to impose new tariffs on Mexico, Canada and China – the United States’ three biggest trading partners – as soon as he takes office, on Jan. 20.