Trump announces plans for tariffs on Mexico, Canada, and China as trade tensions rise

President-elect Donald Trump announced plans to impose significant tariffs on goods from Mexico, Canada, and China. He intends to charge a 25% tariff on products from Mexico and Canada and a 10% tariff on Chinese goods, citing issues like fentanyl smuggling. China and Canada quickly responded, emphasizing the mutual benefits of their trade relationships with the U.S. China warned that a trade war would not benefit anyone, while Canada highlighted its importance to U.S. energy supplies. Trump's approach marks a return to his previous protectionist trade policies. His administration had previously imposed tariffs on Chinese goods, leading to retaliatory measures. The new tariffs are part of his broader economic agenda as he prepares to take office.