US President-elect Donald Trump has said one of his first acts will be to slap 25% tariffs on Canada and Mexico, a move which would cause havoc for two of America's key economic partners.Canada and Mexico are grappling with US President-elect Donald Trump's threat to place 25% tariffs on exports into their most important trade market,

The tariffs, if implemented, could dramatically raise prices for American consumers on everything from gas to automobiles to agricultural products.

Mexico and Canada are the United States’ top two trading partners, accounting for nearly 30% of trade volumes.