Donald Trump has announced 25% tariffs on Mexico and Canada. Here is how they would work and what such tariffs might mean.

President-elect Donald Trump's threat to impose tariffs on Canada, China and Mexico on the first day of his administration could dramatically raise prices for Americans on everything from cars to clothes to oil.

Mexican Economy Minister Marcelo Ebrard said on Wednesday that a 25% across-the-board tariff proposed by U.S. President-elect Donald Trump would cause the loss of 400,000 jobs and slow growth in the United States,