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

President-elect Donald Trump plans to impose significant tariffs on Canada, Mexico, and China starting January 20. He proposes a 25% tariff on imports from Canada and Mexico, and an additional 10% on Chinese goods, linking these measures to issues of illegal drugs and immigration. Trump's tariffs differ from his previous approach, as they are framed as responses to border security concerns rather than solely trade practices. He has indicated that these tariffs will remain until the flow of drugs and undocumented migrants is addressed. Reactions from Canada and Mexico have been cautious, with officials emphasizing cooperation on trade and border security. China's embassy warned that a trade war would not benefit either side. Following Trump's announcement, currencies in Canada and Mexico weakened against the US dollar, reflecting market concerns.