In today’s news, President-elect Donald Trump announced that on his first day in office, he plans to impose a 25% tariff on all goods coming from Mexico and Canada.
This decision comes as a response to what Trump describes as an increase in crime and drug trafficking from both countries into the United States.
He emphasized that the tariffs would remain until the flow of illegal drugs, particularly fentanyl, and illegal migrants is stopped.
Trump also mentioned that China would face an additional 10% tariff on goods, citing their failure to address drug exports to the U.S.
Trump has previously pledged to use strong measures to combat illegal immigration, including deploying military resources for mass deportations.
However, while Trump claims that crime and drug problems have reached unprecedented levels, violent crime rates in the U.S. actually declined for the third consecutive year in 2023.
Economists warn that the tariffs could increase inflation and consumer prices, potentially hurting the U.S. economy.
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