President-elect Trump has promised to impose 25% tariffs on all goods imported from Canada and Mexico, and tariffs as high as 60% on goods coming from China on day one of his new administration. What will these protectionist policies accomplish?

The U.S. is the largest importer of goods in the world, with Mexico, China and Canada its top three suppliers, according to the most recent census data.

President-elect Trump's plan to impose tariffs on Canada would drive up fuel prices for Americans, as it would throw into turmoil longstanding trade from the biggest supplier of crude to the U.S., analysts said this week.