President-elect Donald Trump's proposed tariffs on Canada and Mexico could lead to price hikes for a range of everyday goods. On Monday, Trump announced his plan to impose a 25 percent tariff on goods from Canada and Mexico. In a series of Truth Social ...

Mexico and Canada are the United States’ top two trading partners, accounting for nearly 30% of trade volumes.

The president-elect calls it an effort to force them to crack down on illegal immigration and drug smuggling into the US.

The tariffs, if implemented, could dramatically raise prices for American consumers on everything from gas to automobiles to agricultural products.

President-elect Donald Trump said he plans to impose 25% tariffs on all imports from Mexico and Canada and an additional 10% on goods from China, in moves likely to ramp up tensions with America's three top trading partners.

President-elect Donald Trump said he would impose the import tariffs — 25 percent for Canada and Mexico and 10 percent for China — as soon as he takes office.

The president-elect said that he would impose the across-the-board tariffs on Day 1 and that they would stay in place until Canada, Mexico and China halted the flow of drugs and migrants.

The US heavily taxed imports for much of its history before largely abandoning the policy, beginning in the 1930s, as government leaders embraced the idea of free trade. Tariffs made a comeback during the 2017-2021 presidency of Donald Trump,