A long-time economist and state leaders on Tuesday weighed in on President-elect Donald Trump’s plans to impose tariffs on three major trade partners of the U.S.

Trump posted his intentions on social media this week to impose a 10% tariff on Chinese goods and a 25% tariff on all products imported from Mexico and Canada once he takes office as a part of his effort to crack down on illegal immigration and drugs. The tariffs would remain in place until the countries take action to stop both, he said.

Tariffs are a tax on imports, so anything made in Mexico, China and Canada to be sold in the U.S. would be hit by that tax increase under this sweeping proposal.

Then, the cost of that tax is typically passed off to consumers, University of St. Thomas Finance Professor Dave Vang explained.

“I do see some national security rationales here,” Vang said, citing a secondary background in national security. “But as an economist, in the short term, it’s usually best not to have tariffs.”

Vang expects the president-elect’s proposed tariffs would be “a win-lose kind of situation” for Americans.

“So the losers, for the most part, are going to be consumers,” he said, citing an expected rise in prices on a multitude of products.

“Not necessarily by the full amount that the tariff percentage is, but they will cause some increase in costs,” Vang continued.

“You go to any hardware store, about 90% of the products there are going to be made in China, so they do a lot of remanufacturing or replacement parts for everything that’s mechanical, to everything that’s plastic and so forth, as well as clothing. And so, there will be some impact if this actually is enacted.”

The winners would be domestic producers like the U.S. auto industry “because they’ll have less competition,” Vang said.

“If you’re in an industry where you’re manufacturing, you’re probably going to be cheering this, because it’ll be more job security,” he added.

Asked at the presentation of Minnesota’s Thanksgiving turkey at the Capitol on Tuesday, Minnesota Governor Tim Walz and Commissioner of the Minnesota Department of Agriculture Thom Petersen expressed some concern over the possible impact on Minnesota exports if the countries were to retaliate by imposing tariffs on the U.S., something at least Mexico has suggested.

“Mexico, in particular, is a top market. 74% of our exports do go to Mexico,” Petersen said. “So, we’ll see how it plays out but going to be very, very important, and we’ll be, as a state, engaged in those negotiations.”

“Export markets are critically important to agriculture, and we’ve fostered those with our trade partners,” Gov. Walz said. “We obviously produce more than we’re going to use in Minnesota and so it’s important that we have both international and domestic partnerships, so of course we’ll watch those moves closely.”

Vang said he believes Trump is using tariffs as more of a negotiating tool than an economic policy, meaning they likely would not be permanent and may never be imposed.

“In the long term, if there’s these other political issues going out there: national security, weak supply chains and events of emergencies, maybe we have to bite the bullet and accept some costs, just for, as I said, security issues,” Vang said.

“So I think he’s using it kind of as a leverage, but yes, in general, it’s going to be an upward pressure on prices, which kind of contradicts the drive that we want to have inflation stopped and so forth.”

The tariffs would not become an official policy until Trump takes office if he decides to sign off on it at that time.