The president-elect calls it an effort to force them to crack down on illegal immigration and drug smuggling into the US.

The tariffs, if implemented, could dramatically raise prices for American consumers on everything from gas to automobiles to agricultural products.

If enacted, they would violate the 2020 deal that the United States inked with Canada and Mexico during Donald Trump’s first term.

The president-elect plans to raise tariffs by an additional 10% on all Chinese goods coming into the U.S., according to a post on his social media platform Truth Social.

No One Will Win a Trade War,' China Says After Trump Tariff Threat WASHINGTON (Reuters) - Neither the United States nor China would win a trade war, the Chinese Embassy in Washington said on Monday, after U.

President-elect Donald Trump said he would impose the import tariffs — 25 percent for Canada and Mexico and 10 percent for China — as soon as he takes office.

On Truth Social, Trump alleged that Chinese inaction on illegal fentanyl was the reason behind the new 10% tariff.

Mexico has supplanted China as the main source of goods, but imports keep climbing.

Donald Trump said on Monday that he will impose an additional 10 percent tariff on Chinese products entering the U.S. when he returns to the White House.

The yuan fell against the U.S. dollar to its weakest in nearly four months after U.S. President-elect Donald Trump said he would impose a 25% tariff on all products from Mexico and Canada, and an additional 10% tariff on goods from China.

Trump announced plans to impose 10% tariffs on Chinese goods “above any additional Tariffs,” after blaming the country for the inflow of illegal fentanyl into the U.S.