President Trump says he'll impose tariffs on Mexico and Canada on Tuesday. Mexico is working hard to persuade Trump to hold off on the threat.

Bloomberg, citing a person familiar, has reported that the proposed tariffs by Mexico on China would focus on cars and auto parts. The move is likely a response by Mexico City to avoid a looming 25% tariff by the United States on Mexican goods.

From the aluminum in beverage containers to the steel in vehicles, tariffs are expected to raise prices across the economy.