Trump's Sweeping Tariff Plans Set to Reshape Global Trade Dynamics

President-elect Trump announces significant tariffs on imports from Mexico, Canada, and China, sparking economic concerns and international responses.

Trump plans to impose a 25% tariff on imports from Mexico and Canada and a 10% tariff on Chinese goods, effective on his first day in office.
Economists warn the tariffs could worsen inflation, raising prices on consumer goods like electronics, appliances, furniture, and vehicles.
Analysts project U.S. households could face annual income reductions of $1,700–$2,600 due to the regressive nature of tariffs, with low-income families hit hardest.
The European Union and other global trade partners are preparing potential retaliatory measures while exploring negotiations to mitigate the impact.
Experts advise U.S. consumers to consider purchasing high-ticket items like electronics, appliances, and vehicles before tariffs drive up costs further.