Tariffs on day one.

From Marketplace, I'm Sabri Beneshore in for David Brancaccio.

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

In a post on truth, Social Trump singled out Mexico and Canada, the U.S.'s two largest trading partners,

saying he'd impose 25 percent tariffs on goods from those countries

until they do more to stop fentanyl and migrants from crossing the border illegally.

The BBC's Will Grant is in Mexico City.

Mexicans and certainly officials in Mexico remember the first Trump presidency,

perhaps not in the greatest of lights in terms of that kind of rhetoric.

The rhetoric was always, it's Mexico's fault.

They're not doing enough.

They've got to do more.

Why haven't they done enough?

And this, I think, is the first sign that it's going to take that kind of tone again.

I think it comes down to this question of how will that actually translate to policy,

given it would cause so much disruption, given the fact that these three nations, including

Canada, need to figure out the renegotiation of the USMCA, their regional free trade agreement

in 2026. What is the likelihood of a genuine 25% tariff on Mexican products going to the

US when they're worth billions of dollars a year?

That's the BBC's Will Grant. Tariffs are paid by Americans, not foreign countries,

according to estimates from the Budget Lab, the promised tariffs on Canada, Mexico, and China

would cost U.S. households on average almost $1,200 a year. You know how companies report every quarter on how they're doing

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