President-elect Donald Trump promised to impose a 25% tariff on all goods from Mexico and Canada on his first day in office. Imports from Mexico and Canada totaled $900 billion in 2023. Trump has proposed tariffs as a solution to government funding.

Trade watchers don’t expect President-elect Donald Trump to blow up the U.S.-Mexico-Agreement on free trade. He ushered it in himself in 2018, and junking the pact would probably hurt U.S. auto makers and others Trump aims to protect.