Household goods, gas and more may be pricier due to proposed steep tariffs, as Mexico and Canada are the country's top suppliers.

Donald Trump’s threat of 25% tariffs on Mexico and Canada would cost the US economy as many as 400,000 jobs and increase prices for American consumers, according to the Mexican government.Most Read from BloombergNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Italy’s Motor City,

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.