President-elect Donald Trump threatened to impose sweeping new tariffs on Mexico, Canada and China as soon as he takes office as part of his effort to crack down on illegal immigration and drugs. He said he would impose a 25% tax on all products entering the country from Canada and Mexico, and an additional 10% tariff on goods from China, as one of his first executive orders.

The tariffs, if implemented, could dramatically raise prices for American consumers on everything from gas to automobiles to agricultural products. The U.S. is the largest importer of goods in the world, with Mexico, China and Canada its top three suppliers, according to the most recent U.S. Census data.

Trump made the threats Monday in a pair of posts on his Truth Social site in which he railed against an influx of illegal migrants, even though southern border apprehensions have been hovering near four-year lows.

"On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders," he wrote, complaining that "thousands of people are pouring through Mexico and Canada, bringing Crime and Drugs at levels never seen before," even though violent crime is down from pandemic highs.

He said the new tariffs would remain in place "until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!"

"Both Mexico and Canada have the absolute right and power to easily solve this long simmering problem. We hereby demand that they use this power," he went on, "and until such time that they do, it is time for them to pay a very big price!"

A senior Canadian government official said Prime Minister Justin Trudeau and Trump spoke after Trump's posts. The two spoke about the border and trade and had a good conversation, the official said. The official was not authorized to speak publicly about the matter and spoke on condition of anonymity.

Trump also turned his ire on China, saying he has "had many talks with China about the massive amounts of drugs, in particular Fentanyl, being sent into the United States – But to no avail."

"Until such time as they stop, we will be charging China an additional 10% Tariff, above any additional Tariffs, on all of their many products coming into the United States of America," he wrote.

The Chinese Embassy in Washington cautioned on Monday that there will be losers on all sides if there is a trade war.

"China-US economic and trade cooperation is mutually beneficial in nature," embassy spokesman Liu Pengyu posted on X. "No one will win a trade war or a #tariff war." He added that China had taken steps in the last year to help stem drug trafficking.

It is unclear whether Trump will actually go through with the threats or if he is using them as a negotiating tactic before he returns to the White House in the new year.

Trump's nominee for treasury secretary, Scott Bessent — who if confirmed, would be one of several officials responsible for imposing tariffs on other countries — has on several occasions said tariffs are a means of negotiation.