President-elect Donald Trump has vowed to impose a 25% tariff on all goods coming from Mexico and Canada, starting from his first day in office. This move is aimed at addressing the issue of illegal drugs, particularly fentanyl, and migrants crossing the border.
Trump announced his plans on his Truth Social network, stating that the tariffs will remain in effect until Mexico and Canada take action to stop the flow of illegal drugs and migrants into the US. He also threatened to impose an additional 10% tariff on goods from China, citing the country’s failure to crack down on the export of fentanyl.
The proposed tariffs have sparked concerns among economists and business leaders, who warn that they could lead to higher prices for consumers, fuel inflation, and disrupt trade flows. The move is also expected to have a significant impact on the auto industry, as well as other sectors that rely heavily on trade between the US, Mexico, and Canada.
