Trump threatens new tariffs on Mexico, Canada and China starting January 2025

U.S. President-elect Donald Trump has threatened to impose new tariffs on Mexico, Canada, and China starting January 20, 2025. He claims these tariffs are necessary to combat illegal immigration and drug trafficking, particularly fentanyl. Trump's proposed tariffs include a 25% tax on all imports from Mexico and Canada, and an additional 10% on Chinese goods. This comes despite recent data showing a decline in illegal border crossings from Mexico. The potential tariffs could significantly impact trade relations and economies in North America. Canada and Mexico have not yet responded to Trump's threats, while China has warned that higher tariffs could lead to increased consumer prices in the U.S.