Trump plans 25% tariffs on Canadian and Mexican goods starting next year

Donald Trump plans to impose new tariffs on goods from Canada, Mexico, and China starting on his first day back in office next year. He announced a 25% tariff on all Canadian and Mexican goods and a 10% tariff on Chinese goods. This policy aims to address issues related to illegal drugs and immigration. Trump stated that the tariffs will remain until Canada and Mexico take action on these concerns. Neither country has responded to the announcement yet. The tariffs could significantly raise prices on various goods, including automotive parts, food products, and energy. Key sectors affected include agriculture, manufacturing, and consumer electronics, which rely heavily on imports from Canada and Mexico.