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.

Economists worry that Trump's tariff plan will raise the prices of a range of imported goods, from cars to electronics.

Comments made by President-elect Donald Trump this week on more tariffs coming once he takes office have raised fears about a new trade war.