After President-elect Donald Trump said he would enact steep tariffs on Mexico, Canada and China, those nations urged talks instead of damaging trade relationships. Meanwhile, economists fear tariffs could stoke inflation for U.

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.

President-elect Donald Trump said he will impose a 25% tariff on all products from Mexico and Canada coming into the U.S. and added tariffs on China.