Trump has made clear he will use tariffs — many of which he can enact without Congress’ approval — to an unprecedented degree as a bludgeon against allies and rivals alike to achieve domestic and foreign policy goals. Rising inflation as tariffs result in higher prices on imports such as cars, electronics, food, and clothing.

President-elect Donald Trump railed on social media over the weekend against a group of emerging economies for their attempts to circumvent the dollar. While markets mostly took Trump's words in stride,

The U.S. is the largest importer of goods in the world, with Mexico, China and Canada its top three suppliers, according to the most recent census data.

President-elect Trump warned nations to forego efforts to adopt a new currency on Saturday by threatening to impose a 100 percent tariff on countries that try to undervalue the U.S. dollar. “We require a commitment from these Countries that they will neither create a new BRICS Currency,

The promise of new tariffs on America’s neighbors from President-elect Donald Trump has world leaders and businesses trying to predict the potential fallout.