President Trump signed an executive order imposing 25% tariffs on imports from Canada and Mexico, along with an additional 10% levy on goods from China. The order takes effect on Tuesday and aims to curb undocumented immigration, boost domestic manufacturing, and raise federal revenue. Experts warn of potential economic impacts, with Canada’s economy possibly shrinking by 3.6% and inflation in the U.S. rising by 1 percentage point. American consumers may see higher prices for imported goods, with automobiles potentially increasing by $3,000 each. The tariffs could also lead to supply chain disruptions and retaliation risks for U.S. businesses.
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