US President-elect Donald Trump on Monday said he is going to impose a 25 per cent tariff on goods coming from Mexico and Canada. Along with this, he has also talked about imposing a 10 per cent tariff on imports from China.

In a series of posts on his social media accounts, Trump has vowed to impose sweeping tariffs on all goods entering the country from America's major trading partners.

"On January 20th I will be signing all necessary documents to impose a 25% tariff on all products coming into the United States from Mexico and Canada and its ridiculous open borders," he wrote in the post.

He said that thousands of people are entering America from the borders of Mexico and Canada. The crime rate in America is very high at this time. Even at this time, a large number of illegal immigrants are entering America from Mexico.

One of my first orders on January 20 will be to impose a 25 percent tariff on all products imported into the US from Mexico and Canada. This decision will be implemented at a time when drugs, especially fentanyl and all illegal items, are being brought into the US in large numbers.

Will tariffs hurt growth?

Tariffs are a key part of Donald Trump's economic agenda, with the Republican president-elect vowing to impose sweeping duties on allies and opponents alike during his campaign ahead of his Nov. 5 victory.

Many economists have warned that tariffs would hurt growth and increase inflation, since tariffs are paid primarily by importers bringing goods into the U.S., who often pass those costs on to consumers.

It is worth noting that the newly elected President of America, Donald Trump, will take oath of the President's post on January 20. Along with taking oath, he will sign many files. One of which is going to be that of tariff.

We demand that they use this power and unless they do, they will pay a very big price, Trump said. In addition, the president-elect accused China of failing to stop the flow of medicines into the US.

"I have negotiated with China several times about shipping large quantities of drugs, particularly fentanyl, to the United States - but to no avail," Trump said.