Trump plans 25 percent tariffs on goods from Canada and Mexico

President-elect Donald Trump announced plans to impose a 25 percent tariff on goods from Canada and Mexico. This move aims to address illegal drug trafficking, particularly fentanyl, which is largely sourced from Mexico. If implemented, the tariffs could significantly raise prices on various everyday products. Key categories affected include automobiles, agricultural goods, electronics, and fuels, potentially costing Americans an estimated $78 billion annually. Canada and Mexico, major trading partners, may face economic impacts due to these tariffs. Canadian officials have expressed a desire to discuss the economic relationship with the incoming administration, while Mexico has not yet responded.