Donald Trump made some remarks late on Monday night (local time) that put the world on notice.

He indicated that the US could impose a 25 percent tariff on products from Canada and Mexico as soon as February 1.

The nations are two of the America’s top trading partners.

The US imported more than $1.4 trillion worth of goods from Canada and Mexico last year and exported more than $1 trillion worth of goods in return.

US tariffs could be met with retaliatory tariffs from Canada and Mexico and experts have warned that Mr Trump’s plan could harm the US economy.

Mr Trump has blamed the neighbouring countries for allowing “mass numbers of people to come in and fentanyl to come in”.

The new US President also put out a warning to the entire globe, stating he was considering putting a levy on anything imported to the United States, from any destination in the world, accusing “essentially all countries” of taking advantage of the US.