Trump Doubles Down on Tariffs: How This Will Change Your 2025 Finances

Now that Donald Trump has officially transitioned from "former president/ presidential candidate" to President-elect , many are financially bracing themselves for the incoming tariffs he's promised to implement against countries who import goods to America. Trump has threatened to impose a 25% tariff upon all imports from our trading partners Canada and Mexico until Trump feels they have curtailed illegal into America, as well as the smuggling of drugs such as Fentanyl across their borders. Further, Trump has also threatened an additional 10% tariff upon any additional tariffs on imports from China (a somewhat confusing statement, as he has already promised a 60% tariff on China, per Reuters).