The president-elect's proposed tarrifs on the U.S.'s largest trading partners could push its import duties to 1930s levels, triggering inflation and forcing a major reorganisation of global supply cha

The president-elect said that he would impose the across-the-board tariffs on Day 1 and that they would stay in place until Canada, Mexico and China halted the flow of drugs and migrants.

While the announcement is almost certainly bluster to bring attention to illegal immigration and fentanyl smuggling, there are several reasons why it is so risky.