The tariffs he imposed on China in his first term were continued by President Joe Biden, a Democrat who even expanded tariffs and restrictions on the world's second largest economy. Biden administration officials looked at removing Trump's tariffs in order to bring down inflationary pressures, only to find they were unlikely to help significantly.

Donald Trump’s threat of 25% tariffs on Mexico and Canada would cost the US economy as many as 400,000 jobs and increase prices for American consumers, according to the Mexican government.

A government official says Canada is already examining possible retaliatory tariffs on certain items from the United States should President-elect Donald Trump follow through on his threat to impose sweeping tariffs on Canadian products.