Trump plans major tariffs on all U.S. imports to address trade deficits

President-elect Donald Trump plans to implement significant tariffs on all $3 trillion of U.S. imports, with a proposed 10% tariff on all goods and up to 60% on Chinese products. He aims to address trade deficits and pressure countries he claims have exploited the U.S. Trump has also suggested tariffs exceeding 200% on vehicles from Mexico, citing protection for U.S. auto manufacturers. Experts warn that these tariffs could lead to higher prices for consumers and uncertainty for businesses, impacting their planning and operations. Previous tariffs have led to retaliatory measures from other countries, affecting U.S. exports, particularly in agriculture. The potential for new tariffs raises concerns about compliance with international trade obligations and the likelihood of further trade disputes.