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

President-elect Donald Trump has announced plans to impose new tariffs on Mexico, Canada, and China starting on his first day in office. He proposes a 25% tariff on goods from Mexico and Canada, and a 10% tariff on Chinese products. These tariffs aim to address illegal immigration and drug trafficking, particularly fentanyl. The U.S. is the largest importer globally, and these tariffs could significantly increase prices for American consumers on various goods. Trump's statements come amid a decline in border apprehensions from Mexico, while arrests from Canada have risen. The potential tariffs could strain economic relations with Canada and Mexico, which are key trade partners for the U.S.