President-elect Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States. On Monday, Trump sent shockwaves across the nation's northern and southern borders,

President-elect Trump says he will add a 25 percent tax on goods from Canada and Mexico on his first day in office.

Trump has announced that Canada and Mexico could soon see a 25 percent tariff added to all imported goods while China could face an additional 10 percent – something Trump says is part of an effort to curtail “crime and drugs” coming into the U.S. and slow the number of illegal border crossings.