Donald Trump has threatened to hike tariffs as soon as he assumes office as United States president on January 20.

Both his rivals and allies could be affected by the measures.

Trump says the measures are aimed at protecting US industries. But, he has gone as far as threatening to use economic force against Ottawa after suggesting Canada should become the 51st US state.

Many economists have warned his policies, which also include cutting taxes, could reignite inflation and lead to a global trade war.

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