Trump's recent tariff news in detail: 🔆 Canada and Mexico: Trump has implemented a 25% tariff on goods from these countries, with a lower 10% tariff specifically on Canadian energy resources. The rationale provided is to push for cooperation on drug trafficking, particularly fentanyl, and border security. 🔆 China: A 10% tariff has been imposed on Chinese imports, again with a focus on addressing the fentanyl crisis, which is seen as having significant ties to China. 🔆 Estimates suggest around $1.5 trillion could be raised through fiscal year 2035. However, this would also come with economic effects like reduced output due to higher costs for imports. 🔆 Tariffs are generally paid by importers, which can lead to higher prices for consumers, potentially increasing the cost of living. This has been a point of contention, with critics arguing that it acts as a tax on American consumers rather than a penalty on foreign producers. 🔆 Tariffs are seen not just as economic tools but also as leverage in negotiations over immigration, drug policy, and trade agreements. 🔆 Conclusion: Trump's tariff policies in 2025 are multifaceted, involving economic, strategic, and political dimensions. While they aim to address national security and economic imbalances, their full impact on the U.S. economy, consumer prices, and international relations remains to be seen