Trump plans new tariffs on Mexico, Canada and China on first day in office

President-elect Donald Trump has announced plans to impose significant tariffs on Mexico, Canada, and China starting on his first day in office. He proposed a 25% tariff on goods from Mexico and Canada and a 10% tariff on Chinese products, citing concerns over illegal immigration and drug trafficking. Trump's statements come despite recent data showing a decline in illegal border crossings from Mexico. He claimed that the tariffs would remain until these issues are resolved, demanding action from both Mexico and Canada to address the situation. The Canadian government has responded, indicating that Prime Minister Justin Trudeau spoke with Trump about trade and border issues. The potential tariffs could impact prices for American consumers and challenge the economies of Canada and Mexico, which are heavily reliant on trade with the U.S.