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President-elect Donald Trump threatens to impose sweeping new tariffs on Mexico, Canada and China on first day in office

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President-elect Donald Trump is threatening to impose sweeping new tariffs on Mexico, Canada and China as soon as he takes office as part of his efforts to crack down on illegal immigration and drugs
The article from The Philadelphia Inquirer discusses former President Donald Trump's proposal to impose new tariffs on imports if he were to win the 2024 presidential election. Trump's plan includes a universal baseline tariff on most imported goods, with higher tariffs on countries that retaliate against U.S. trade measures. Specifically, he aims to reinstate tariffs on Mexican and Canadian goods, which were part of his previous administration's trade strategy. These tariffs would replace the current USMCA (United States-Mexico-Canada Agreement) with what Trump describes as a "better deal." Additionally, Trump has expressed intentions to increase tariffs on Chinese imports significantly, aiming to reduce the trade deficit with China. Critics argue that these policies could lead to higher prices for American consumers, provoke trade wars, and disrupt global trade relations, while supporters believe they would protect American industries and jobs.

Read the Full Philadelphia Inquirer Article at [ https://www.inquirer.com/politics/nation/donald-trump-tariffs-mexico-canada-china-united-states-20241126.html ]