Trump plans new tariffs on China, Mexico and Canada raising concerns over consumer costs

President-elect Donald Trump plans to impose new tariffs on products from China, Mexico, and Canada. He aims to pressure these countries to address drug smuggling and illegal immigration. The proposed tariffs include a 25 percent increase on goods from Canada and Mexico and a 10 percent tariff on Chinese imports. Economists warn that these tariffs could raise costs for American consumers. While Trump claims the tariffs will not affect U.S. citizens, experts say businesses may pass on the increased costs to consumers, leading to higher prices for everyday goods, including food and construction materials. In his previous term, Trump's tariffs led to price increases on various products. Analysts estimate that his new tariff plans could cost the average American household over $2,600 annually. Trump's transition team maintains that his policies will ultimately benefit the economy and American workers.