Trump proposes new tariffs on imports from Canada, Mexico, and China

President-elect Donald Trump plans to impose new tariffs on imports from Canada, Mexico, and China, starting with a 25% tax on goods from Canada and Mexico and a 10% tax on Chinese products. He claims this will address illegal immigration and drug trafficking. Economists express skepticism about the effectiveness of tariffs, warning they could raise prices for consumers and hurt industries reliant on imports. They note that previous tariffs did not significantly boost U.S. jobs and often led to retaliatory measures from other countries. The Biden administration has maintained some tariffs from the Trump era, but the U.S. has shifted away from promoting free trade. Trump's proposed tariffs mark a return to a more protectionist trade policy, reminiscent of earlier U.S. practices.