Trump plans 25% tariff on Canada and Mexico goods on first day back in office

Donald Trump plans to impose a 25% tariff on all goods from Canada and Mexico on his first day back in office, January 20. He cites concerns over crime and drugs entering the U.S. as the reason for this action. Trump also intends to implement a 10% tariff on Chinese goods, claiming that China has not adequately addressed the fentanyl trade. His previous administration had similar tariffs, which contributed to a trade war. Economists warn that these tariffs may increase prices for U.S. consumers and businesses. Mexican officials have expressed concern that such measures could harm the U.S.-Mexico economic relationship.