If President-elect Donald Trump follows through with proposals to impose a 25% tariff on all items from Canada and Mexico, the result would be a stiff penalty on some of America’s favorite libations, not to mention the No. 1 beer brand in the nation: Modelo .

Trump's proposed 25% tariffs on Mexico could raise prices on avocados, tequila, and more, impacting both U.S. consumers and Mexican producers.

Donald Trump's tariff plan would affect products from Canada, Mexico, and China. Here's what to know about tariffs, who pays them, and how they work.