Trump plans new tariffs on imports from Mexico, Canada, and China if re-elected

Donald Trump plans to impose significant new tariffs on imports from Mexico, Canada, and China if he takes office again. He has proposed a 25% tariff on goods from Mexico and Canada until they address illegal immigration and drug trafficking. In contrast to his first term, where tariffs had a limited economic impact, these new tariffs could generate around $266 billion in tax revenue. This raises concerns about potential price increases for consumers and retaliatory measures from affected countries. Democrats and business groups are warning that these tariffs could lead to higher costs for everyday goods. They have introduced legislation to limit a president's ability to impose such tariffs unilaterally, though it may face challenges with a Republican-controlled Congress.