Donald Trump says he will impose a 25% tariff on goods coming from Mexico and Canada, plus an extra 10% on Chinese goods.

President-elect Donald Trump on Monday promised massive hikes in tariffs on goods coming from Mexico, Canada and China starting on the first day of his administration, a policy that could sharply increase costs for American businesses and consumers.

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