Trump announces tariffs on imports from Mexico, Canada, and China before taking office

President-elect Donald Trump has announced significant tariffs on imports from Mexico, Canada, and China before taking office. He plans to impose a 25% tariff on goods from Mexico and Canada and a 10% tariff on Chinese imports, effective on his first day. These announcements have impacted global markets, with the Canadian dollar and Mexican peso declining against the US dollar. Analysts suggest that Trump's tariff threats may serve as leverage in negotiations, but they also warn of potential market volatility ahead. Companies are preparing for higher tariffs by increasing imports to the US. Economists note that this strategy may lead to a larger stockpiling of goods before the inauguration, as businesses seek to avoid the anticipated tariffs.