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 are part of Trump's strategy to address illegal immigration and drug trafficking. He claims the tariffs will remain until these issues are resolved, despite recent data showing a decline in illegal border crossings from Mexico. The proposed tariffs could significantly impact prices for American consumers. They may also strain trade relations with Canada and Mexico, which are key U.S. trading partners, and could complicate the existing trade agreements.