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

President-elect Donald Trump announced plans to impose significant tariffs on Mexico, Canada, and China starting on his first day in office. He proposed a 25% tariff on all products from Canada and Mexico, and an additional 10% on goods from China. 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 border apprehensions from Mexico. The proposed tariffs could lead to higher prices for American consumers and challenge the economies of Canada and Mexico. The Canadian dollar weakened following Trump's announcement, and both countries have not yet publicly responded to the threats.