Trump vows new tariffs on Canada, Mexico, China on first day in office

Donald Trump President of the United States of America

US President-elect Donald Trump vowed to impose sweeping new tariffs on Mexico, Canada and China as soon as he takes office as part of his effort to crack down on illegal immigration and drugs.

He said he would impose a 25% tax on all products from Canada and Mexico, and an additional 10% tariff on goods from China, as one of his first executive orders.

Trump made the threats on his Truth Social, a social media platform, where he railed against an influx of illegal migrants.

“Thousands of people are pouring through Mexico and Canada, bringing crime and drugs at levels never seen before,” he said.

The Canadian dollar, therefore, hit an all time low in four years, while Mexican peso traded near its lowest level since 2022.