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The Guardian - US
The Guardian - US
Business
Callum Jones in New York

Trump’s tariff plan will send prices ‘through the roof’, warn US firms

people carrying shopping bags
Shoppers carry Macy's, Marshalls and Ross bags on Post Street in San Francisco, California, in November 2024. Photograph: Bloomberg/Getty Images

Donald Trump set the business and political world alight late on Monday. The incoming president said he would impose a 25% tariff on goods from Mexico and Canada and hit China with more levies on day one of his term.

“This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” he wrote on Truth Social.

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