Trump announces tariffs on imports from Mexico, Canada, and China

Donald Trump announced plans to impose a 25% tariff on all goods from Mexico and Canada, and a 10% tariff on imports from China. He stated these tariffs aim to address illegal immigration and drug smuggling. This announcement marks a continuation of Trump's previous trade policies. The tariffs could create new tensions in North America and impact global trade dynamics. Financial markets reacted quickly, with the Canadian dollar and Mexican peso declining. Trump's approach ties trade issues to national security concerns. His team argues that these measures will help boost domestic manufacturing and pressure trading partners to address illegal activities.