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.

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.

Mexico and Canada are the United States’ top two trading partners, accounting for nearly 30% of trade volumes.