President-elect Trump has announced plans to implement sweeping tariffs on imports from Canada, Mexico, and China, a move central to his 2024 campaign, but one expert warns that this could drive up prices and disrupt the economy. Trump stated he would sign orders on his first day in office for a 25% tariff on Canadian and Mexican goods and a 10% levy on Chinese imports. Retailers are preparing to raise prices or stockpile inventory in response. U.S. imports from Mexico and Canada — including cars, electronics, and energy products — are deeply integrated into North American supply chains. Chinese goods comprise a significant share of U.S. consumer electronics, machinery, and textiles.
