Trump plans new tariffs on Mexico, Canada and China as he returns to the White House

Donald Trump has announced plans to impose a 25% tariff on all products from Mexico and Canada, effective January 20. He claims this measure is necessary to address issues related to crime and drug trafficking, particularly fentanyl. In addition, Trump stated he would implement a 10% tariff on Chinese goods, citing ongoing drug trafficking concerns. This tariff would be added on top of existing tariffs. These announcements mark a return to Trump's previous trade policies, reminiscent of his administration from 2016 to 2020. The potential impact on markets is being closely monitored.