Trump plans new tariffs on imports from Canada, Mexico, and China

President-elect Donald Trump plans to impose significant tariffs on imports from Canada, Mexico, and China, starting with a 25% tax on goods from the first two countries and a 10% tax on Chinese products. This move aims to address illegal immigration and drug trafficking. Economists express skepticism about the effectiveness of tariffs, warning they could raise prices for consumers and disrupt supply chains. They note that previous tariffs have not significantly boosted U.S. manufacturing jobs and have led to retaliatory measures from other countries. The Biden administration has maintained some tariffs from the Trump era, reflecting a broader shift away from free trade policies. This change has been driven by concerns over job losses linked to global trade practices, particularly with China.