Trump ups the ante on tariffs, vowing massive taxes on goods from Mexico, Canada and China on Day 1

CNN —

President-elect Donald Trump on Monday promised massive hikes in tariffs on goods coming from Mexico, Canada and China starting on the first day of his administration.

The move, Trump said, will be in retaliation for illegal immigration and “crime and drugs” coming across the border.

“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,” Trump posted on his Truth Social platform. “This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!”

Trump said America’s neighbors can “easily solve this long simmering problem.”

Similarly, Trump said that China will face higher tariffs on its goods – by 10% above any existing tariffs – until it prevents the flow of illegal drugs into the United States.

A forklift transfers a shipping container for export at a port in Lianyungang, Jiangsu province May 5, 2014. China's overall trade is likely to gain momentum after May when high base effects fade off and data more accurately reflects the underlying picture, the commerce ministry said in a report on its website. Picture taken May 5, 2014. REUTERS/China Daily (CHINA — Tags: BUSINESS POLITICS) CHINA OUT. NO COMMERCIAL OR EDITORIAL SALES IN CHINA

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“I have had many talks with China about the massive amounts of drugs, in particular Fentanyl, being sent into the United States – But to no avail,” Trump posted on Truth Social.

The president-elect claimed in the post that Chinese officials promised him the country