Trump plans 25% tariffs on all goods from Canada and Mexico starting January 20

President-elect Donald Trump plans to impose a 25% tariff on all goods from Canada and Mexico starting January 20. He announced this in a series of posts on Truth Social, linking the tariffs to issues of drug trafficking and illegal immigration. Trump also intends to add a 10% tariff on Chinese goods, which would increase the total tariff on China to 70% if he follows through with previous proposals. He blames China for drug trafficking, particularly fentanyl. These tariffs mark a significant shift in trade policy, affecting key trading partners. The economic impact is expected to be substantial, with potential price increases for consumers.