Trump plans new tariffs on Mexico, Canada and China starting January 20

President-elect Donald Trump plans to impose new tariffs on Mexico, Canada, and China starting January 20. He announced a 25% tariff on all products from Mexico and Canada and a 10% tariff on Chinese goods, citing concerns over illegal immigration and drug trafficking. These tariffs could significantly impact the economies of Canada and Mexico, which are major suppliers to the U.S. The proposed tariffs may also affect the existing trade deal established in 2020, which is set for review in 2026. Trump's statements come despite recent data showing a decline in illegal border crossings and increased fentanyl seizures. Canadian and Mexican officials have not yet responded to Trump's announcements.