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

President-elect Donald Trump plans to impose new tariffs on Mexico, Canada, and China starting January 20. He announced a 25% tariff on all products from Mexico and Canada, citing concerns over illegal immigration and drug trafficking. Trump also threatened a 10% tariff on Chinese goods, linking it to the flow of fentanyl into the U.S. He expressed frustration over ongoing drug smuggling despite previous discussions with China. Current data shows a potential drop in illegal crossings at the U.S.-Mexico border, contradicting Trump's claims of a crisis. The proposed tariffs could significantly impact prices for various goods in the U.S.