Mexican President Claudia Sheinbaum on Tuesday warned U.S. President-elect Donald Trump of dire economic consequences for both countries from tariffs and suggested possible retaliation following his threat of across-the-board tariffs of 25% on Mexico and Canada.

Mexican president suggests Mexico could respond to any of Donald Trump's tariffs with tariffs of its own on US products.

The president-elect said he would sign an executive order immediately after his inauguration introducing a 25% tariff on all goods coming from Mexico and Canada and a 10% tariff on goods from China. Start the day smarter.