Trump’s Tariffs on Canada, Mexico Signal Focus on North American Free Trade Agreement

‘I think there are some refinements that are very appropriate,’ says former Commerce Secretary Wilbur Ross.

U.S. President Donald Trump (R) talks with Canada's Prime Minister Justin Trudeau during a meeting at Winfield House, London, on Dec. 3, 2019. Nicholas KammAFP via Getty Images

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 stated, is to pressure the two nations to clamp down on drugs and illegal immigrants crossing the border.