Trump's Tariff Plans: New Trade Policies Unveiled

President-elect Donald Trump announced plans to impose a 25% tariff on products from Mexico and Canada and a 10% tariff on goods from China. This decision, to be enacted on his first day in office, is aimed at combating illegal immigration and the trade of illicit drugs, particularly fentanyl.

In a significant policy announcement, U.S. President-elect Donald Trump declared on Monday that he plans to introduce new tariffs on products from Mexico, Canada, and China as part of his first executive actions in office.

The tariffs, including a 25% duty on goods from Mexico and Canada and an additional 10% on products from China, are a response to ongoing concerns about illegal immigration and drug trafficking, specifically the flow of fentanyl into the United States.

President-elect Trump criticized China for failing to adequately address the issue of illicit drugs crossing the border, stating the new tariffs will persist until Beijing takes more effective measures. Previously, Trump indicated intentions to withdraw China's most-favored-nation trading status, significantly increasing tariffs on Chinese imports.

(With inputs from agencies.)