President-elect Trump has promised to impose 25% tariffs on all goods imported from Canada and Mexico, and tariffs as high as 60% on goods coming from China on day one of his new administration. What will these protectionist policies accomplish?

In 2018, during Donald Trump’s first presidential term, he imposed tariffs on Chinese imports because he felt the US trade deficit with China was too high. Trump is promising more tariffs on Chinese imports during his second term,

The companies are urging the president-elect to reimpose duties on steel from the U.K., the EU and Japan, accusing foreign rivals of unfair market practices.