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 aims to address illegal immigration and drug trafficking, particularly fentanyl. Trump's proposed tariffs include a 25% tax on all products from Mexico and Canada and an additional 10% on Chinese goods. This move could significantly increase prices for various consumer products. Current data shows that illegal border crossings are at a four-year low, and fentanyl seizures have increased under President Biden. It remains uncertain if Trump will follow through with these tariff threats or use them as negotiation leverage.