Translocation of tRNA and mRNA by the ribosome during protein synthesis involves a number of precise and coordinated macromolecular rearrangements. Recently, high-resolution x-ray structures, cryo-EM reconstructions, and single-molecule fluorescence studies have yielded insight into the nature of these conformational states, and the kinetics of their inter-conversion. Yet, a detailed understanding of translocation is still missing mainly because its characterization requires the application of external force to inhibit or facilitate the step in which the ribosome converts chemical energy into mechanical work. Such measurements have so far remained elusive and, as a result, little is known about the mechanical properties of the ribosome, the maximum force it can exert during translocation, and its thermodynamic efficiency. Moreover, it is not known how the application of an external force affects the translocation rate, a response that is relevant to understanding the mechanism of translocation, co-translational protein folding, frameshifting, and other forms of translation regulation. Here, we address these questions using optical tweezers to follow translation by individual ribosomes along single mRNA molecules, against externally applied force. We find that the transition state during translocation is located close to the full extent of a one-codon step, ruling out models in which the mechanical step is composed of some combination of one- or two-nucleotide sub-steps. We show that the ribosome is able to generate a force barely sufficient to unwind the most stable structures typically found in mRNAs, making the translation rate highly sensitive to the presence and stability of these structures, and providing a mechanical basis for their regulatory role. Finally, our measurements indicate that the ribosome is able to convert the energy from the transpeptidation reaction into mechanical work with high efficiency. Our assay opens the way to characterizing the full mechano-chemical cycle of the ribosome.