Trump plans tariffs on Canada, Mexico and China to address trade issues

Donald Trump plans to impose a 25% tariff on imports from Canada and Mexico, and a 10% tariff on imports from China, starting January 20. This move is aimed at addressing issues related to drugs and migration. Tariffs are taxes on imported goods, which American companies pay when bringing products into the U.S. These tariffs could lead to higher prices for consumers, as companies may pass on the costs. The tariffs target the U.S.'s largest trading partners, which could provoke retaliatory measures. Previous tariffs led to trade tensions, affecting American farmers and prompting bailouts.