Even as Mexico President Claudia Sheinbaum attempts to quell concerns over Donald Trump’s threat of 25% tariffs, economists are looking glumly at the trouble ahead should the US president-elect actually follow through.

President-elect Donald Trump plans to put tariffs on Canada, the largest foreign steel supplier to the U.S. Catherine Cobden, president and CEO of the Canadian Steel Producers Association, joins "The Daily Report" to discuss what tariffs could mean for the industry.

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

Economists say the tariffs would act like a tax on American consumers, raising prices on any number of products. "We typically think as a rule of thumb that about 75% of the tariff will be passed onto consumers,