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 aims to address illegal immigration and drug trafficking, particularly fentanyl. Trump stated he would charge a 25% tariff on all products from Mexico and Canada and a 10% tariff on Chinese goods. This move could lead to higher prices for various consumer products. Current data shows a decline in illegal border crossings, with arrests at a four-year low. The potential tariffs could impact trade relations and the economies of Canada and Mexico, raising concerns about the future of the 2020 trade deal.