New day, new tariff threat for a marketplace. I'm Sabri Beneshore in for David Brancaccio. President

elect Donald Trump says on his first day in office, he will put tariffs on goods coming from China, Mexico, and Canada.

Those three countries are the largest U.S. trade partners. Canada buys the most U.S. exports, followed by Mexico, followed by China.

Marketplaces, Nancy Marshall Ginsburg, has more.

Trump says after he's sworn into office on January 20th, he'll sign an executive order,

putting a 25% tariff on all products coming into the U.S. from Mexico and Canada.

In a post on truth social, Trump says the tariffs will remain in place until Canada and Mexico stop the flow of drugs such as fentanyl across the border and end what he calls

the invasion of, quote, illegal aliens, referring to undocumented immigrants. The tariffs, Trump's

threatening, would appear to violate the terms of the United States-Mexico-Canada agreement negotiated and signed by Trump during his first term.

It allows tariff-free trade for many products.

In another truth, social pose, Trump said he would sign a second executive order charging China an additional 10% tariff.

Trump says China never followed through on promises to execute

drug dealers who smuggle fentanyl into the U.S. In posts on Blue Sky, Ernie Tedeshi,

Director of Economics at the Yale Budget Lab, says Trump's threats would raise the average

effective tariff rate in the U.S. to the highest point since 1946.

I'm Nancy Marshall Genser for Marketplace.

On Wednesday, the Census Bureau will report just how much we as a country spent on imports

and how much we earned on exports for the month of October.

One U.S. export that has been increasing in recent months is

soybeans, mostly because soybeans are getting cheaper. In fact, soybean prices have been falling for

more than two years now. The reason, good old supply and demand. Marketplace is Justin Hoare reports.

Soybean supplies are up because soybean production is up and soybean production is up because

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