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

President-elect Donald Trump plans to impose significant tariffs on imports from China, Canada, and Mexico starting on his first day in office. He announced a 10% tariff on Chinese goods and a 25% tariff on products from Canada and Mexico. Trump cited concerns over fentanyl shipments and illegal immigration as reasons for these tariffs. He stated that the tariffs would remain until drug trafficking and illegal immigration are addressed. Market reactions have been mixed. While Trump's election initially boosted markets, concerns about the potential impact of these tariffs have led to some declines in futures trading.