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

Donald Trump plans to implement significant tariffs on imports from Mexico, Canada, and China if he takes office again. He proposes a 25% tariff on goods from Mexico and Canada until they address illegal immigration and drug trafficking. Chinese imports would face a 10% tariff until China curbs fentanyl production. These new tariffs could greatly exceed those from Trump's first term, which had minimal overall economic impact. The proposed tariffs could generate around $266 billion in tax collections, raising concerns about potential price increases for U.S. consumers and retaliatory measures from affected countries. House Democrats are preparing legislation to limit a president's ability to impose such tariffs unilaterally. They warn that these tariffs could lead to higher prices for various goods, while Mexico is considering its own retaliatory tariffs on U.S. products.