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?

T here is a tax break for just about everyone on the list of cuts that President-elect Donald Trump promised during his campaign, ranging from averting income-tax rate increases scheduled for 2026 to eliminating taxes on tips and Social Security income.

Donald Trump's tariff plan would affect products from Canada, Mexico, and China. Here's what to know about tariffs, who pays them, and how they work.