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

Donald Trump plans to impose significant tariffs on imports from Mexico and Canada if he takes office again. He has proposed a 25% tariff on all goods from these countries until they address illegal immigration and drug trafficking. This could disrupt the North American trade agreement. Trump also intends to impose a 10% tariff on Chinese imports until China takes action against fentanyl production. Business groups warn that these tariffs could lead to higher inflation, while Mexico is preparing retaliatory tariffs on U.S. products. House Democrats have introduced legislation requiring congressional approval for such tariffs, but this is largely symbolic given the upcoming Republican control of Congress. The proposed tariffs could generate around $266 billion in tax collections, significantly impacting U.S. consumers and businesses.