Trump said that he plans to seek to impose a 25% tariff on products imported from Mexico and Canada. President-elect Donald Trump on Monday said his incoming administration would slap new tariffs on imported goods from Mexico, Canada and China, fulfilling a key campaign promise that could have a major impact on trade.

Trump threatened the additional 10 percent tariff on Monday after he said that he had "many talks with China" about fentanyl.

Trump said he plans to raise tariffs 25% on Mexico and Canada and an additional 10% on China on his first day in office.