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 aim to address illegal immigration and drug trafficking, particularly fentanyl. The U.S. is the largest importer globally, and these tariffs could significantly increase prices for American consumers on various goods. Trump's statements come amid a decline in border apprehensions from Mexico, while arrests from Canada have risen. The Canadian dollar weakened following Trump's announcement, and officials from Canada and Mexico have not yet responded to the proposed tariffs.