In 2018, during Donald Trump’s first presidential term, he imposed tariffs on Chinese imports because he felt the US trade deficit with China was too high. Trump is promising more tariffs on Chinese imports during his second term,

President-elect Trump has promised to impose 25% tariffs on all goods imported from Canada and Mexico, and tariffs as high as 60% on goods coming from China on day one of his new administration. What will these protectionist policies accomplish?

Mexico has supplanted China as the main source of goods, but imports keep climbing.

Trump, who takes office on Jan. 20, said he would impose a 25% tariff on imports from Canada and Mexico until they clamped down on drugs, particularly fentanyl, and migrants crossing the border, in a move that would appear to violate a free-trade deal.

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.

And let’s not forget that during his campaign Trump suggested goods from all countries would be hit with tariffs of 10 percent or 20 percent, and 60 percent for China. The United States has typically imposed tariffs to punish unfair or illegal trade practices such as “dumping,

President-elect Donald Trump’s promise to impose stiff tariffs against America’s three biggest trading partners is widely expected to push prices higher, which would set the stage for the Federal Reserve to stop cutting interest rates and possibly raise them instead.

The companies are urging the president-elect to reimpose duties on steel from the U.K., the EU and Japan, accusing foreign rivals of unfair market practices.

Some U.S. steelmakers are supporting President-elect Donald Trump’s proposals to place tariffs on China, Mexico and other countries, according to