The president-elect’s threat to hit Canada, Mexico and China with new tariffs is already rocking business and diplomatic relationships and could topple the trade pacts he signed in his first term.

Donald Trump says he will impose a 25% tariff on goods coming from Mexico and Canada, plus an extra 10% on Chinese goods.

Officials from Mexico, Canada and China warned U.S. President-elect Donald Trump's threat of imposing hefty tariffs on goods from the three largest U.S. trading partners would harm the economies of all involved and would risk aggravating inflation and damaging job markets.

The president-elect said that he would impose the across-the-board tariffs on Day 1 and that they would stay in place until Canada, Mexico and China halted the flow of drugs and migrants.

Mexico has supplanted China as the main source of goods, but imports keep climbing.

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,

U.S. oil and gas lobbying groups said on Tuesday they were wary of President-elect Donald Trump's threat of tariffs on Canada and Mexico, saying such policies could affect consumers, industry and security.