The president's pledge to slap 25 percent tariffs on Canada and Mexico could see the prices of goods soar for U.S. consumers.

Americans buy $900 billion a year in food, cars, TVs, toys, appliances and other goods from Mexico and Canada. The cost of these products could rise if President Trump carries out his threat to apply 25% tariffs.

President Donald Trump doubled down this week on his plans for an across the board 25% tariff on goods imported from Canada and Mexico, as well an additional 10% on China, countries that make up more than a third of US Trade.