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

President-elect Donald Trump plans to impose significant tariffs on imports from Canada, Mexico, and China, starting with a 25% tax on goods from the first two countries and a 10% tax on Chinese products. This move aims to address illegal immigration and drug trafficking. Economists express skepticism about the effectiveness of tariffs, noting they often lead to higher prices for consumers and may not significantly boost U.S. manufacturing jobs. They warn that essential goods, including energy and food, could be particularly affected. The Biden administration has maintained some tariffs from the previous administration, but the overall trend has shifted away from promoting free trade. Trump's proposed tariffs could provoke retaliatory measures from affected countries, complicating international trade relations.