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

MEXICO CITY — Mexico’s president responded angrily Tuesday to President-elect Donald Trump’s pledge to impose a 25 percent tariff on its products if the country didn’t curb the flow of irregular migrants and fentanyl, warning that the penalties would only wind up causing inflation and unemployment in the United States.

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.