Trump announces plans for higher tariffs on China

On November 25, US President-elect Donald Trump announced plans to significantly raise

In a post on Truth Social, Trump stated, "On January 20, with one of my first Executive Orders, I will sign all necessary documents to impose a 25% tariff on Mexico and Canada for all products entering the United States and our country’s ridiculous open borders."

He emphasized that these tariffs will remain in place until the flow of drugs, particularly fentanyl, and illegal immigrants across the U.S. border has been completely stopped.

Trump also indicated that neighboring countries can "easily solve this long-standing problem." In addition, he mentioned that China would face higher tariffs as well, with a 10% increase over current rates, unless Beijing takes action to halt the illegal drug trade into the U.S.