President-elect Donald Trump intends to follow through on his plan to impose sweeping tariffs on America’s top trading partners — a move that could come at a high cost to U.S. consumers. On Monday, Trump promised a new tariff on all products entering the U.

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.

Canada is seriously considering imposing its own tax on the United States if the incoming Trump administration slaps tariffs on exports from north of the border. The northern neighbor is weighing retaliatory action against the U.