Mexico and Canada are the United States’ top two trading partners, accounting for nearly 30% of trade volumes.

President-elect Donald Trump promised to impose a 25% tariff on all goods from Mexico and Canada on his first day in office. Imports from Mexico and Canada totaled $900 billion in 2023. Trump has proposed tariffs as a solution to government funding.

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.

Senior Canadian figures have reacted with shock and concern to Donald Trump's announcement that he plans to impose tariffs of 25 percent on all goods entering the United States from Canada and Mexico when returned to the White House.