Canadian Prime Minister Justin Trudeau is warning that proposed tariffs against Canada and Mexico from President-elect Donald Trump will "make life a lot more expensive" for Americans. 

Trump has threatened to impose 25% tariffs on all imports from Mexico and Canada, accusing both countries of allowing drugs and illegal immigrants to freely flow across their borders into the U.S. Speaking at a December 9 event with the Halifax Chamber of Commerce, Trudeau asserted that Americans are "beginning to wake up to the reality" that Trump's tariffs will drive up prices on a variety of goods, according to the Associated Press. 

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"Let’s not kid ourselves in any way, shape or form — 25% tariffs on everything going to the United States would be devastating for the Canadian economy,” he said. "It would also, however, mean real hardship for Americans as well."

Trudeau pointed out that roughly 65% of U.S. crude oil imports come from Canada, as well as 85% of lumber imports, and a range of agricultural products. And although much of Trump's campaign was centered around lowering inflation for the average American, Trump admitted in a December 8 interview with NBC's Kristen Welker that he "can't guarantee" that his tariffs won't raise prices for U.S. consumers. 

Trudeau also noted that Canada will indeed "respond to unfair tariffs" if Trump follows through on his threats. When Trump's previous administration levied taxes against Canadian steel and aluminum in 2018, Trudeau's administration retaliated with tariffs of its own on a wide array of U.S. imports, including bourbon, yogurt, Harley Davidson motorcycles, cherries and more.