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 Claudia Sheinbaum has clapped back at President-elect Trump’s proposed 25% tariff on imported goods from Mexico, saying she would impose tariffs of her own on the U.S.

President Claudia Sheinbaum Pardo said tariffs could cause more inflation and result in job losses for the U.S. and Mexico.

Trump's early tariff announcements on Mexico, Canada, and China are just the "opening move," wrote one trade-focused attorney.

Reaction to Trump's day one promise to slap tariffs on three of the America's key trading partners: Mexico, Canada and China. The president-elect framed the proposal as a response to the fentanyl crisis.

Financial analysts and business leaders on Tuesday reacted to a threat from U.S. President-elect Donald Trump to impose 25% tariffs on top trade partners Mexico and Canada when he takes office for a second term in January in a move that could trigger a trade war.

Donald Trump's plans could spark trade wars, fuel volatility, reignite inflation, and spur a flight to safety in markets, analysts said.

Analysts are predicting that prices will go up for Americans due to President-elect Donald Trump’s tariff plan. NBC News’ Hallie Jackson details the tariffs on Canada, China and Mexico and a possible trade war on the horizon.