In a Truth Social post, Trump that he would implement a 25% tariff on imports from Canada and Mexico until both countries took stronger action against drugs, particularly fentanyl, and the flow of migrants crossing the U.S. border.

Trump threatened to impose 25% tariffs on Canada and Mexico and 10% on China as soon as he gets into office on January 20, 2025. He accused the countries of permitting the flow of illegal migrants and drugs, particularly fentanyl, into the US.

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,

Trump threatened to impose tariffs on Mexico, Canada and China through executive order on Inauguration Day. It’s unclear exactly what that will mean.

President-elect Donald Trump has already begun to captivate financial markets with his unorthodox negotiating style, as evidenced by the reaction to his Tuesday night threat to impose 25% tariffs on Mexico and Canada and a surcharge tariff of 10% on China.