Canadian Prime Minister Justin Trudeau said Friday that if President-elect Donald Trump follows through on this threat to impose sweeping tariffs on Canadian products, he would be raising prices for Americans and hurting American business.

Donald Trump has threatened a 25% tariff on imported goods entering the country from Canada and Mexico, starting on Day One of his second administration.

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.