Trump said in a post to Truth Social on Monday that one of his first executive orders would be to hit Mexico and Canada with a blanket 25% tariff. Mexico and Canada are the second and third top suppliers of goods to the U.S., according to the Office of the U.S. Trade Representative. The U.S. imports the most goods from China.

Another check on the administration could be the fear of tariff-induced inflation. Americans’ experience of the highest price rises in 40 years helped doom Kamala Harris’s election bid. Mr Trump may not want to be seen as the architect behind surging prices of everything from Americans’ breakfast avocados to their newest set of wheels.

The proposed tariffs, if applied to oil and gas, could hammer Canada's economy and hike prices at the pump for Americans, analysts say.

The president-elect’s threat to hit Canada, Mexico and China with new tariffs is already rocking business and diplomatic relationships and could topple the trade pacts he signed in his first term.

Trump has pledged to punish Canada and Mexico for “bringing Crime and Drugs at levels never seen before” by imposing a 25 percent tariff on all imported goods from U.S. neighbors — with no exceptions made for oil and natural gas.

The new tariffs being floated by Trump now are dramatically larger and there could be far more significant impacts.

Reaction to Trump's day one promise to slap tariffs on three of the America's key trading partners: Mexico, Canada and China. The president-elect framed the proposal as a response to the fentanyl crisis.

By Joe Cash BEIJING (Reuters) -China attacked U.S. President-elect Donald Trump's pledge to slap additional tariffs on Chinese goods over fentanyl flows, saying his incoming administration was pushing the blame for America's opioid crisis onto China.

On Monday, President-elect Trump specifically promised​ a 25% tariff on all products coming from Mexico and Canada—in addition to a 10% levy on Chinese goods.