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,

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.

President-elect Donald Trump’s threatened tariffs might be more of a political negotiating tactic than a set-in-stone policy, but the outcome is sure to have huge impacts on American consumers.