President-elect Donald Trump announced new tariffs, signaling to allies and adversaries that he is prepared to tighten America’s trade agreements.
Trump, who takes office on Jan. 20, said in a series of social media posts that he will slap a 25 percent tariff on all imports from Canada and Mexico. The purpose, Trump says, is to pressure the two nations to clamp down on drugs and illegal immigrants crossing the border.
“Both Mexico and Canada have the absolute right and power to easily solve this long-simmering problem,” Trump wrote in a Truth Social post on Nov. 25. “We hereby demand that they use this power, and until such time that they do, it is time for them to pay a very big price!”…