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

Donald Trump plans to impose new tariffs on imports from Mexico, Canada, and China after taking office in January. He aims for a 25% tariff on goods from Mexico and Canada and a 10% tariff on Chinese imports, potentially raising costs by $236 billion. Many voters do not believe these tariffs will harm them, despite warnings from economists about increased prices and economic inefficiencies. A significant portion of the public lacks a clear understanding of how tariffs work, with many mistakenly thinking foreign entities bear the costs. During his first term, Trump’s tariffs did not significantly impact consumers, as they were structured to limit effects on finished goods. Analysts suggest his current tariff threats may serve as negotiation tactics rather than definitive policy changes.